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Saba Puts Pressure on New Closed-End Fund Targets

The credit-oriented hedge fund also is calling on two Western Asset funds to declassify their boards.

Boaz Weinstein’s Saba Capital Management is putting pressure on several new activist targets.The credit-oriented hedge fund, which employs a strategy of buying up shares of closed-end mutual funds that are trading at significant discounts to their net asset values and putting pressure on management to narrow the discounts, on Wednesday

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