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BRIEF-Madison Asset Management provides updates on reorganization of Madison Strategic Sector Premium Fund
July 7, 2017 / 4:45 PM / 15 days ago

BRIEF-Madison Asset Management provides updates on reorganization of Madison Strategic Sector Premium Fund

1 Min Read

July 7 (Reuters) - Madison Asset Management:

* Provides updates on the reorganization of Madison Strategic Sector Premium Fund into Madison Covered Call & Equity Strategy Fund

* Reorganization is not expected to adversely impact distributions to common shareholders

* Anticipated that if shareholders approve reorganization it will lower fees for MCN shareholders

* Adviser, Madison Asset Management, will bear expenses associated with reorganization​

* Date of joint Special Meeting Of Shareholders to consider reorganization has been set for August 18

* If reorganization is approved by shareholders, it is currently expected that will be completed in second half of 2017

* Anticipates if shareholders approve reorganization, it will provide MSP shareholders with board of only Independent Trustees Source text for Eikon: Further company coverage: (Reporting by Indranil Sarkar)

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