GAMCO investors puts forward investment expert for Saba Fund Boards
GAMCO Investors has announced plans to nominate David Schachter to the boards of two investment funds run by Saba Capital Management.
The funds, which invest in income and capital opportunities, are currently trading below the value of the assets they hold.
GAMCO says Schachter’s appointment could help close that gap and better protect investor interests.
Schachter has spent more than 40 years working in this area of investing. He has been Vice President of the Gabelli Utility Trust for over 25 years and previously worked at a firm specialising in these types of funds.
He is a regular commentator on financial markets and has appeared on major TV networks, including CNBC and CNN. Schachter is also known for producing educational materials - through the Closed-End Fund Corner on Gabelli TV and YouTube - that help investors better understand how these funds work.
He also co-authored the influential report entitled ‘Closed-End Funds Managed Distribution Policy,’ further underscoring his depth of expertise and thought leadership within the closed-end fund community.
GAMCO said his experience would bring stronger oversight to the funds and give investors a clearer voice on how they are managed.
Shareholders will vote on the nomination at the funds’ annual meetings in 2026.
About GAMCO Investors, Inc
GAMCO Investors, founded in 1977, manages investments for institutions and individual investors across a wide range of markets.
Today, GAMCO offers a diverse set of client solutions across asset classes (e.g. Equities, Debt Instruments, Convertibles, non-market correlated Merger Arbitrage), regions, market capitalisations, sectors (e.g. Gold, Utilities) and investment styles (e.g. Value, Growth). GAMCO serves a broad client base, including institutions, intermediaries, offshore investors, private wealth, and direct retail investors.
This article is produced by SWNS based on content distributed by GlobeNewswire.