Saba Capital Income & Opportunities Fund exposes shocking distribution sources
- Saba Capital published an estimate of its distribution sources for December 2024.
- The distribution will be entirely from net investment income, totaling $0.08500 per share.
- The fund highlighted that distributions do not necessarily reflect the fund's investment performance.
On December 30, 2024, Saba Capital Income & Opportunities Fund II, a closed-end management investment company listed on the New York Stock Exchange, notified its shareholders about the sources of its monthly distribution. The notification was provided in accordance with Section 19(a) of the Investment Company Act. The estimated sources of the distribution to be paid on December 31, 2024, indicated that out of a total distribution of $0.08500 per share, 100% would come from net investment income. The announcement is part of ongoing compliance with securities laws to provide transparency to investors regarding the sources of distributions, which include net investment income, capital gains, and return of capital. The fund also cautioned investors against drawing conclusions about investment performance solely from distribution amounts, emphasizing that a portion of the distribution may be a return of capital.