Closed-End Funds Content

October 31, 2024—ICI submitted a letter to the Securities and Exchange Commission regarding the order instituting proceedings to provide further information in support of the New York Stock Exchange’s proposed amendments to Section 302.00 of the NYSE Listed Company Manual that would...

November 15, 2024—Just as publicly traded companies do, mutual funds, ETFs, and closed-end funds periodically submit items to their shareholders for approval, including director nominations and other policy and governance matters. Shareholders typically vote by proxy, rather than in...

September 12, 2024—Powerful activist investors have been abusing the New York Stock Exchange's annual shareholder meeting requirement for listed closed-end funds, a requirement that provides little benefit to long-term shareholders and costs them millions of dollars. The NYSE's...

August 27, 2024—The New York Stock Exchange’s (NYSE) annual shareholder meeting requirement for listed closed-end funds (CEFs) is creating an end-run around the investor protections of the Investment Company Act of 1940 (1940 Act), the landmark law governing mutual funds and other...

Before 2020, Voya Prime Rate Trust had an investment objective to provide income and preserve capital and invested almost exclusively in senior loans.