Saba Capital Management, L.P. and certain associated parties (collectively “Saba”) today announced that shareholders of Templeton Global Income Fund (NYSE: GIM) (the “Fund”) have elected all of Saba’s nominees – Aditya Bindal, Frederic Gabriel, Paul Kazarian, and Pierre Weinstein – to the Fund’s Board of Trustees (the “Board”), thereby replacing all four incumbent Trustees standing for re-election at the Fund’s 2021 Annual Meeting of Shareholders (the “Annual Meeting”). These results have been certified by the independent Inspector of Election for the Annual Meeting.
Boaz Weinstein, Founder & Chief Investment Officer at Saba, said, “We are pleased our fellow GIM shareholders agree that Saba’s nominees’ fresh perspectives, portfolio management skills and corporate governance experience are required to create long-term value for all GIM shareholders. The outcome of the Annual Meeting represents an important step toward improving the Fund’s performance and reducing its prolonged net asset value discount, and we thank GIM shareholders for their overwhelming support. Saba has a long history of working with boards for the benefit of all shareholders and will continue to push for best in class corporate governance standards.”
About Saba Capital
Saba Capital Management, L.P. is a registered investment adviser founded in 2009. Saba is a spin-out of a proprietary investing group founded by Boaz Weinstein at Deutsche Bank in 1998. Saba manages $3.3 billion across four core strategies: Credit Relative Value, Tail Hedge, SPACs and Closed-End Funds. Saba’s investors are predominantly institutions and include public and corporate pension plans, endowments and foundations, family offices, banks and insurers, bank private wealth platforms, fund of funds and certain high net worth individuals.
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