GAMCO Investors, Inc. to Make Nomination to the Boards of Saba Capital Management Closed-End Funds
Rhea-AI Summary
GAMCO Investors (OTCQX: GAMI) announced affiliates intend to nominate David Schachter for Trustee of Saba Income & Capital Opportunities Fund (NYSE: BRW) and Saba Capital Income & Opportunities Fund II (NYSE: SABA).
The Funds trade at discounts of about 11.26% (BRW) and 13.18% (SABA). GAMCO will solicit proxies for each Fund's 2026 Annual Meeting.
Positive
- Nomination of an experienced closed-end fund specialist with 40+ years
- Funds' discounts disclosed: BRW 11.26% and SABA 13.18%
- GAMCO will solicit proxies for the 2026 Annual Meetings
Negative
- Persisting discounts to NAV: BRW 11.26% and SABA 13.18%
- Potential for shareholder proxy solicitations at each Fund's 2026 meeting
News Market Reaction – GAMI
In the Feb 3 session, GAMI declined 1.52%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
GREENWICH, Conn., Feb. 02, 2026 (GLOBE NEWSWIRE) -- GAMCO Investors, Inc. (“Gabelli”) (OTCQX: GAMI) today announced that certain of its affiliates intend to nominate David Schachter for election as a Trustee to the Boards of the Saba Income & Capital Opportunities Fund (NYSE: BRW) and the Saba Capital Income & Opportunities Fund II (NYSE: SABA), both closed-end funds (the “Funds”) managed by Saba Capital Management L.P.
The Funds currently trade at discounts to their net asset values—approximately
Mr. Schachter has appeared on major financial news networks including CNBC and CNN and has been quoted in prominent newspapers and financial publications on topics related to closed-end funds, shareholder value, and fund structure. He has made significant contributions to investor education by producing brochures and video content focused on closed-end funds, available through the Closed-End Fund Corner on Gabelli TV and YouTube (https://gabelli.com/insights/gabelli-media/gabelli-closed-end-corner/). 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.
Gabelli believes that Mr. Schachter’s election would meaningfully enhance Board independence and expertise and provide shareholders with a Trustee committed to addressing discount erosion, improving accountability, and advancing shareholder value.
Gabelli and its affiliates intend to solicit proxies in support of Mr. Schachter’s nomination as a Trustee of the Funds at each Fund’s 2026 Annual Meeting of Shareholders.
About GAMCO Investors, Inc
GAMCO Investors, Inc. (OTCQX: GAMI), established in 1977, is a widely-recognized provider of investment advisory services to 27 open-end funds, 13 United States closed-end funds and one United Kingdom investment company, 8 actively managed exchange traded funds, one société d’investissement à capital variable, and approximately 1,900 institutional and private wealth management investors principally in the U.S. The Company’s revenues are based primarily on the levels of assets under management and fees associated with the various investment products.
In 1977, GAMCO launched its well-known All Cap Value equity strategy, Gabelli Value, in a separate account format and in 1986 entered the mutual fund business. 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 capitalizations, 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.
| Contact: | Investor Relations Contacts: |
| Bethany Uhlein | Laurissa Martire | |
| (914) 921-5546 |
