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Asset Management Partner Nathan Briggs Discusses Closed-End Fund Activism Uptick Compliance Reporter

Practices: Asset Management, Investment Management, Mutual Funds, ETFs & Closed-End Funds, Investment Management Litigation

The recent market turbulence caused by the coronavirus has widened discounts for many closed-end funds, increasing concerns about a potential uptick in hedge fund activism. A March 31 Compliance Reporter article titled CEF activism concerns amid coronavirus turmoilincludes remarks from asset management partner Nathan Briggs. 

“Even apart from the current market conditions this is a very active time with CEF activists, and you’re seeing a greater number of activists using more sophisticated methods, prompting many CEFs to consider whether they have adequate anti-takeover provisions in place and whether it would be in interest of shareholders to put further protections in place,” said Nathan. “Leading up to this the industry and SEC were very much engaged on this issue and having a very active dialogue both publicly and directly, and that has continued,” said Nathan.

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