Alert
Recommended Alerts
Unusual Conversion of a Mutual Fund to a Closed-End Fund
In an unusual move, a mutual fund converted to a closed-end fund with the same investment objective and strategy. As described below, the conversion was approved by the fund’s board of trustees (“Board”) and by a majority of shareholders in unusual circumstances to protect the interests of the fund’s long-term shareholders. Shares of the fund now trade on the New York Stock Exchange (the “NYSE”).