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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”).

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The SEC Swiftly Adopts Proxy Access Rules Following Authorization Under the Dodd-Frank Act

Practices: Shareholder Engagement and Activism

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