Saba picks a fight with BlackRock over closed-end funds
Hedge fund kicks off new proxy campaign with letters citing ‘gruesome’ losses
Boaz Weinstein is taking on the world’s largest asset manager in a proxy battle.
Weinstein’s Saba Capital Management filed so-called ‘fight’ letters with the US Securities and Exchange Commission on June 1 concerning three BlackRock funds: the BlackRock Innovation and Growth Term Trust (BIGZ), BlackRock California Municipal Income Trust (BFZ) and BlackRock ESG Capital Allocation Term Trust (ECAT).
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