Saba Capital Management, L.P. Submits a Notice to Neuberger Berman High Yield Strategies Fund Inc.
April 21, 2020 at 08:51 am EDT
Share
On April 21, 2020, Saba Capital Management, L.P. submitted a notice informing Neuberger Berman High Yield Strategies Fund Inc. of its intention to (i) present a proposal for a shareholder vote at the 2020 annual meeting of stockholders of the Company to consider the termination of the management agreement between the Company and its investment manager, Neuberger Berman Investment Advisers LLC; (ii) nominate for election David Basile, Stephen G. Flanagan, Frederic Gabriel, and Christopher A Klepps to serve as Class III directors on the Board of Directors of the Company (the “Board”); and (iii) nominate for election Andrew Kellerman, Aditya Bindal, and Peter Borish to serve as successors, pursuant to the Maryland Business Corporation Act, to the Board's Class II holdover directors.
Neuberger Berman High Yield Strategies Fund Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high total return (income plus capital appreciation). The Fund will normally invest at least 80% of its total assets in high yield debt securities of United States and foreign issuers, which include securities that are rated below investment grade by a rating agency or are unrated debt securities determined to be of comparable quality by the Fundâs investment manager. It invests in various sectors, including agriculture, airlines, auto manufacturers, biotechnology, building materials, chemicals, commercial services, electric, energy-alternate sources, engineering and construction, entertainment, healthcare-products, healthcare, insurance, iron-steel, machinery-construction and mining and others. The Fundâs investment manager and administrator is Neuberger Berman Investment Advisers LLC.
NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND INC. 
