Jul. 17, 2024
Hello, My name is Michael Foster and I write CEF Insider, a newsletter on CEFs. I've recently written a comment on the proposed rule change regarding CEF annual meetings. I wanted to write an email in addition to my public comment as I am extremely alarmed at the significant negative effects of this rule change, particularly due to the way it may create even more distance between the retail investors CEFs are designed to serve and the subadvisors who typically run the fund. I have seen how the dynamics of the various layers in this market have made CEFs increasingly inefficient, and I suspect the removal of annual shareholder meetings will simply intensify this dynamic and make CEFs less efficient. I am happy to discuss my thoughts on this by email or phone--you can reach me at +66968636839 (best hours would be early morning or late evening ET). Best wishes, Michael