Karpus Investment Sends Letter to Karpus Investment
September 18, 2020 at 04:03 pm EDT
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On September 17, 2020, Karpus Investment Management delivered a letter to DTF Tax-Free Income Inc. nominating 2 director candidates, Arthur Charles Regan and Dr. Daniel C. Robeson, for election to the Board at the Company's next annual meeting of shareholders. Karpus Investment stated that the letter also contained 2 shareholder proposals that Karpus Investment intends to present at the annual meeting, the first proposal seeks to terminate Duff & Phelps Investment Management Co. and the second proposal requests that the Board take all steps in its power to declassify the Board so that all directors are elected on an annual basis. Karpus Investment also stated that it has informed the Board that it is willing to enter into discussions in furtherance of reaching a mutually agreeable resolution.
DTF Tax-Free Income 2028 Term Fund Inc. (the Fund) is a closed-end diversified investment management company. The Fund's investment objective is current income exempt from regular federal income tax consistent with the preservation of capital. The Fund may not invest more than 25% of its total assets (taken at market value at the time of each investment) in the securities of issuers in a single industry; provided that, for purposes of this restriction, tax-exempt securities of issuers that are states, municipalities or their political subdivisions are not considered to be the securities of issuers in any single industry. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of investment-grade tax-exempt obligations. The Fund invests across sectors, such as special tax, education, healthcare, leasing and transportation. Duff & Phelps Investment Management Co. serves as an investment fund adviser.
DTF TAX-FREE INCOME 2028 TERM FUND INC. 
