‘Your Fund Is Under Attack': BlackRock Fights to Repel Saba Raid [Yahoo! Finance Canada]
Saba Capital Income & Opportunities Fund SBI (BRW)
Company Research
Source: Yahoo! Finance Canada
It contained none of the formulaic language or inscrutable fine print typically packed into these sorts of statements. No, this was a call to arms. Most Read from Bloomberg “Your fund is under attack,” the headline screamed in bold print. ADVERTISEMENT The attacker: Boaz Weinstein, the sharp-elbowed Wall Street money manager who says price distortions in funds run by BlackRock and others are cheating investors out of billions of dollars, and they need to be eliminated. This has turned into something of a crusade for Weinstein. Last month, his hedge fund, Saba Capital Management, launched a frenetic bid to have investors remove BlackRock as manager of six funds overseeing about $10 billion in assets. Which is what triggered the note BlackRock sent to clients. “If Saba were to succeed, it may seek to appoint itself as investment advisor” and fundamentally disrupt the funds' objectives and strategies, “all to enrich itself.” The ongoing feud has turned the $250 billion closed
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News
- ‘Your Fund Is Under Attack': BlackRock Fights to Repel Saba Raid [Yahoo! Finance]Yahoo! Finance
- ‘Your Fund Is Under Attack': BlackRock Fights to Repel Saba Raid [BNN Bloomberg (Canada)]BNN Bloomberg
- BRW Announces $0.085 DividendBusiness Wire
- BRW Announces Notification of Sources of DistributionsBusiness Wire
- BRW Announces $0.085 DividendBusiness Wire
BRW
Sec Filings
- 5/6/24 - Form 3
- 4/16/24 - Form 144
- 4/16/24 - Form 144
- BRW's page on the SEC website