Saba Capital Nominates Candidates to the Board of Neuberger Berman
April 02, 2019 at 07:12 pm
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On April 2, 2019, Saba Capital Management, L.P. announced that it has submitted an amended and restated notice informing Neuberger Berman High Yield Strategies Fund Inc of its intention to (i) present a proposal requesting the board of directors of the Company consider termination of the investment management agreement between the Company and Neuberger Berman Management LLC, dated August 6, 2010 (the ‘Management Agreement’), and all other advisory and management agreements between the Company and Neuberger Berman Investment Advisers LLC (the ‘Manager’), and (ii) nominate an additional director Art Lipson for election to the Company’s Board at the 2019 annual meeting of shareholders of the Company, bringing its total proposed slate of nominees to 4 Thomas H. McGlade, Stephen J. Flanagan, Frederic Gabriel, and Art Lipson (collectively, the ‘Nominees’).
Neuberger Berman High Yield Strategies Fund Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high total return (income plus capital appreciation). The Fund will normally invest at least 80% of its total assets in high yield debt securities of United States and foreign issuers, which include securities that are rated below investment grade by a rating agency or are unrated debt securities determined to be of comparable quality by the Fundâs investment manager. It invests in various sectors, including agriculture, airlines, auto manufacturers, biotechnology, building materials, chemicals, commercial services, electric, energy-alternate sources, engineering and construction, entertainment, healthcare-products, healthcare, insurance, iron-steel, machinery-construction and mining and others. The Fundâs investment manager and administrator is Neuberger Berman Investment Advisers LLC.
NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND INC. 
