BlackRock, Nuveen Funds Targeted by Activist Investor Karpus
- Closed-end fund investor argues NAV discounts “unprecedented”
- Urges asset managers to take steps such as liquidating funds
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Karpus Management Inc. is returning to battle a group it has largely avoided fighting for around three years: closed-end fund managers.
The activist investor is launching campaigns against asset managers including BlackRock Inc., Nuveen, and Eaton Vance. Like other activist investors, it’s focusing on funds that trade at steep discounts to the value of their assets, and is pushing money managers to take steps like buying back shares to boost valuations for investors.