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BRW: Severe Losses Might Be Due To Cat Bonds And Failure To Cover Distributions
Saba Capital Income & Opportunities Fund offers a high current income with a 14.51% yield, outperforming peers. The BRW closed-end fund's poor recent performance appears to have been caused by exposure to catastrophe bonds, leading to a net asset value decrease. The Fund failed to cover distributions in recent periods, indicating a potential need for distribution reduction to avoid running out of money.
Seekingalpha | 2 years ago
