Other Events ·
ASA Gold proposes converting from closed-end fund to BDC with Saba Capital as manager, pending shareholder vote
ASAASA Gold & Precious Metals Ltd
ASA Gold and Precious Metals Limited announced that its board of directors approved a proposal to convert from a registered closed-end investment company focused on the gold and precious-metals sector into a business development company (BDC) with a yield-oriented, credit-focused strategy. The conversion includes redomiciling the Company from Bermuda to Delaware and changing its U.S. federal income tax status from a passive foreign investment company to a regulated investment company. Saba Capital Management, L.P. has been selected as the new investment manager. The transaction is subject to shareholder approval at the 2026 Annual General Meeting and is expected to occur by year-end if approved. ASA Gold and Precious Metals Limited operates in the asset management industry, specifically managing a closed-end fund focused on gold and precious metals.