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Emily

Brigade LCSF & Brigade CM Disclosure 1 1 Emily

Brigade LCSF & Brigade CM Disclosure

Brigade Leveraged Capital Structures Fund Ltd. (“Brigade LCSF”), with Brigade Capital Management, LLC (“Brigade CM”) and Donald E. Morgan, III, disclosed, as holders of Auction-Rate Preferred Shares (ARPS) of PIMCO Income Strategy Fund II, that: “on May 3, 2013, Brigade CM and Brigade LCSF sent a notice to the secretary of the Issuer, in accordance with the requirements set forth in the Issuer’s fourth amended and restated bylaws, of their decision to nominate Alan Bruce Miller as a Preferred Shares Trustee of the Issuer at the Issuer’s Annual Meeting.” Learn More

Taxable Closed-End Fund Leverage Ratios Evolve with Capital Structures 1 1 Emily

Taxable Closed-End Fund Leverage Ratios Evolve with Capital Structures

Most taxable leveraged CEFs utilized auction rate preferred stock (ARPS) pre-crisis. Since then, these CEFs have refinanced into traditional senior debt at lower leverage levels. According to a Fitch Ratings study, these CEFs may increase leverage by up to $4.2 billion in the aggregate by issuing preferred stock and diversifying their funding structure in the future. This trend has already been observed in the MLP CEF sector. View full report

AVK and AGC Announce At-Par Redemptions 1 1 Emily

AVK and AGC Announce At-Par Redemptions

The Advent Claymore Convertible Securities and Income Fund (AVK) and Advent Claymore Convertible Securities and Income Fund II (AGC) announced at-par redemptions of all of their remaining outstanding auction market preferred shares (AMPS). AVK will redeem $1.6 million of outstanding AMPS and AGC some $600,000 of outstanding AMPS. Learn More

Join CEFA 150 150 Emily

Join CEFA

The Closed-End Fund Association (CEFA) is the national trade association representing the closed-end fund industry. CEFA is dedicated to informing and educating the public about the many benefits of these unique investment products and to providing a resource for information about its members and their offerings.

Members of CEFA

Membership is open to investment management companies as well as other organizations who help manage, distribute or provide services to closed-end funds.

Benefits of CEFA Membership

CEFA works on behalf of companies that offer closed-end funds in two important ways – with the public and within the industry. CEFA provides a variety of services and benefits to its member firms including reports and intelligence, industry awareness, representation and advocacy and investor education opportunities.

Membership Dues

CEFA annual membership dues are based on assets under management. Associate memberships are also available at a Corporate and an Individual level.

Join CEFA

Complete the Membership Application and send with first year’s membership dues payment to CEFA.

Contact Us

For more information on membership, contact CEFA.

Strong Performance Driving Investment in MLP Closed-End Funds 1 1 Emily

Strong Performance Driving Investment in MLP Closed-End Funds

Closed- end funds (CEFs) investing in master limited partnerships (MLPs) have posted strong returns over the last several years, prompting an inflow of new capital to the sector as investors seek higher-yielding and tax-advantaged assets. View full report

Legg Mason Affiliated Closed-End Funds Conference Call 150 150 Emily

Legg Mason Affiliated Closed-End Funds Conference Call

Investment professionals from Western Asset Management Company, a Legg Mason, Inc. affiliate, participated in a quarterly update to discuss their views on the current market and provide their outlook for the rest of 2013. The call featured the investment professionals for closed-end funds that are affiliated with Legg Mason, Inc. (“Legg Mason”) and are advised or sub-advised by Western Asset.

GAMCO Establishes Shareholder Designated Charitable Contribution Program 150 150 Emily

GAMCO Establishes Shareholder Designated Charitable Contribution Program

GAMCO Investors, Inc. (GAMCO) (NYSE: GBL) announced today it has adopted a Shareholder Designated Charitable Contribution program for all registered Class A and Class B shareholders. Each such shareholder will be eligible to designate charities to which the company will make a donation of $0.25 per share on behalf of the shareholder.

Sierra Income Corporation Schedules Investor Conference Call 150 150 Emily

Sierra Income Corporation Schedules Investor Conference Call

Sierra Income Corporation (the “Company”), today announced that it will release its financial results for the quarter ended March 31, 2013 on May 9, 2013 after the close of the financial markets.

The Company will host an investor update conference call and audio webcast at 11:00 a.m. (Eastern Time) on Friday, May 10, 2013.

All interested parties may participate in the conference call by dialing 877-703-6106 approximately 10-15 minutes prior to the call. Participants should reference Sierra Income Corporation and the participant passcode of 90382135 when prompted. To listen to the live call via webcast, please go to the Company’s website, http://www.sierraincomecorp.com/Newsroom.html, at least 15 minutes prior to the start of the call to register and download any necessary audio software. Following the call you may access a replay of the event via audio webcast from the Company’s website for a period of 30 days following the call or by dialing 888-286-8010 and using passcode 71590347 before the end of the day (11:59 PM Eastern Time) on May 17, 2013.

Reuters: Closed-End Funds Provide Yield, but at a Price 150 150 Emily

Reuters: Closed-End Funds Provide Yield, but at a Price

Investors chasing yield in this low-rate environment are jumping into alternative vehicles. That’s helping closed-end income funds stage a comeback.
Such funds, which offer a fixed number of shares and are closed to new capital once they start operating, have their attractions, but investors should exercise caution. Expenses for closed-end funds tend to be higher than with exchange-traded funds, they are more complex and they usually carry more risk. Their active managers are free to use leverage and invest in a variety of assets in the hope of delivering higher returns than mutual funds with static bond mixes.

The Central Europe, Russia and Turkey Fund, Inc. (NYSE: CEE), The European Equity Fund, Inc. (NYSE: EEA) and The New Germany Fund, Inc. (NYSE: GF) Announce Annual Meetings of Stockholders 150 150 Emily

The Central Europe, Russia and Turkey Fund, Inc. (NYSE: CEE), The European Equity Fund, Inc. (NYSE: EEA) and The New Germany Fund, Inc. (NYSE: GF) Announce Annual Meetings of Stockholders

The Boards of Directors of The Central Europe, Russia and Turkey Fund, Inc., The European Equity Fund, Inc. and The New Germany Fund, Inc. (each a “Fund” and, collectively, the “Funds”) announced today that the Annual Meeting of Stockholders for each Fund will be held at 12:00 p.m., Eastern time on June 26, 2013 at 60 Wall Street, New York, NY 10005. At the Meeting stockholders will consider the election of Directors and certain other matters. Holders of shares of common stock of record of the Funds at the close of business on May 8, 2013 are entitled to vote at the meeting and any postponements or adjournments thereof.