On July 30, 2020, Saba Capital Management, L.P. filed a proxy statement and urged the shareholders of Pioneer Floating Rate Trust to vote for the nominees including Charles I. Clarvit, Stephen G. Flanagan and Frederic Gabriel for election to the Company's board of trustees at the Company's 2020 annual meeting of shareholders and also vote for the proposal to terminate the advisory agreement between the Company and its investment manager, Pioneer Investment Management, Inc.