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'Your Fund Is Under Attack': BlackRock Fights Saba Raid
Analysis May 03, 2024 at 03:14 PM
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What You Need To Know
- The $250 billion closed-end fund industry is now the scene of one of the most dramatic power struggles in finance.
- Last month, Saba Capital Management launched a frenetic bid to have investors remove BlackRock as manager of six funds overseeing about $10 billion in assets.
- BlackRock is warning investors that Saba could radically alter the composition of the funds should it win control, exposing shareholders to greater risk.
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