Saba Capital Engages in Discussions with Management of Nuveen Global
December 01, 2020 at 03:36 pm EST
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On December 1, 2020, Saba Capital Management, L.P. announced that it may engages in discussions with Nuveen Global High Income Fund’s management, the board of trustees , other shareholders of the Company and other relevant parties, including representatives of any of the foregoing, concerning Saba Capital' investment in the common shares and the Company, including, without limitation, matters concerning the Company's business, operations, board appointments, governance, performance, management, capitalization, trading of the common shares at a discount to the Company's net asset value and strategic plans and matters relating to the open or closed end nature of the Issuer and timing of any potential liquidation of the Company.
Nuveen Global High Income Fund (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to provide a high level of current income. The Fund invests at least 80% of its managed assets in global income-producing securities including, but not limited to, corporate debt securities, United States and foreign government debt securities, mortgage- and asset-backed securities, preferred securities, secured and unsecured loans, convertible debt securities and contingent capital securities. The Fund's portfolio composition includes sovereign debt, banks, media, metals and mining, insurance, specialty retail, hotels, restaurants and leisure, capital markets, health care providers and services, chemicals, auto components, trading companies and distributors, software, beverages, wireless telecommunication services, electric utilities, commercial services and supplies and asset-backed securities. The Fund's manager is Nuveen Asset Management, LLC.