Franklin Limited Declares Results of Annual Meeting of Shareholders
October 31, 2016 at 12:00 am EDT
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On October 31, 2016, Franklin Limited Duration Income Trust announced that its shareholders voted to re-elect current Trustees Harris J. Ashton, Edith E. Holiday, and John B. Wilson as Trustees to the Fund's board, defeating the nominees Ronald Mass, Thomas H. McGlade, and Peter Tchir proposed by Saba Capital Management, L.P., and voted against Saba Capital's proposal.
Franklin Limited Duration Income Trust (the Fund) is a closed-end management investment company. The Fund's primary objective is to provide high, current income, with a secondary objective of capital appreciation. The Fund invests in a diversified mix of fixed income securities, primarily high yield corporate bonds, floating-rate corporate loans and mortgage-and other asset-backed securities. It invests in various sectors, which include aerospace and defense, airlines, auto components, automobiles, banks, beverage, biotechnology, building products, capital markets, chemicals, commercial services and supplies, construction and engineering, containers and packaging, distributors, electric utilities, entertainment, insurance, media, metals and mining, Internet and direct marketing retail, information technology services, oil, gas and consumable fuels, paper and forest products, and wireless telecommunication services. The Fund's investment manager is Franklin Advisers, Inc.