SABA Announces Notification of Sources of Distributions
Saba Capital Income & Opportunities Fund II (NYSE: SABA) has announced its monthly distribution details for February 28, 2025. The Fund provides a fixed monthly distribution of $0.058 per share under its managed distribution plan.
The Fund notes that it has likely distributed more than its income and net realized capital gains, meaning a portion of distributions may represent a return of capital. This occurs when shareholders receive back part of their original investment.
As of January 1, 2024, Saba Capital Management, L.P. replaced Franklin Templeton Advisers as the Fund's investment adviser. The Fund's primary objective is to provide high current income, with capital appreciation as a secondary goal, through global investments in debt and equity securities, closed-end funds, SPACs, reinsurance, and various debt instruments.
Saba Capital Income & Opportunities Fund II (NYSE: SABA) ha annunciato i dettagli della distribuzione mensile per il 28 febbraio 2025. Il Fondo offre una distribuzione fissa mensile di $0,058 per azione nell'ambito del suo piano di distribuzione gestita.
Il Fondo osserva che potrebbe aver distribuito più del suo reddito e dei guadagni patrimoniali netti realizzati, il che significa che una parte delle distribuzioni potrebbe rappresentare un ritorno di capitale. Ciò si verifica quando gli azionisti ricevono indietro parte del loro investimento originale.
Dal 1 gennaio 2024, Saba Capital Management, L.P. ha sostituito Franklin Templeton Advisers come consulente per gli investimenti del Fondo. L'obiettivo principale del Fondo è fornire un alto reddito corrente, con l'apprezzamento del capitale come obiettivo secondario, attraverso investimenti globali in titoli di debito e azioni, fondi chiusi, SPAC, riassicurazione e vari strumenti di debito.
Saba Capital Income & Opportunities Fund II (NYSE: SABA) ha anunciado los detalles de su distribución mensual para el 28 de febrero de 2025. El Fondo proporciona una distribución fija mensual de $0.058 por acción bajo su plan de distribución gestionada.
El Fondo señala que probablemente ha distribuido más de sus ingresos y ganancias de capital netas realizadas, lo que significa que una parte de las distribuciones puede representar un retorno de capital. Esto ocurre cuando los accionistas reciben de vuelta parte de su inversión original.
A partir del 1 de enero de 2024, Saba Capital Management, L.P. reemplazó a Franklin Templeton Advisers como asesor de inversiones del Fondo. El objetivo principal del Fondo es proporcionar un alto ingreso corriente, con la apreciación del capital como objetivo secundario, a través de inversiones globales en valores de deuda y capital, fondos cerrados, SPAC, reaseguro y varios instrumentos de deuda.
Saba Capital Income & Opportunities Fund II (NYSE: SABA)는 2025년 2월 28일의 월별 분배 세부 정보를 발표했습니다. 이 펀드는 관리된 분배 계획에 따라 주당 $0.058의 고정 월별 분배를 제공합니다.
펀드는 수익과 순 실현 자본 이익보다 더 많은 분배를 했을 가능성이 있다고 언급하며, 이는 일부 분배가 자본의 반환을 나타낼 수 있음을 의미합니다. 이는 주주가 원래 투자금의 일부를 다시 받는 경우에 발생합니다.
2024년 1월 1일부로 Saba Capital Management, L.P.가 펀드의 투자 고문으로 Franklin Templeton Advisers를 대체했습니다. 이 펀드의 주요 목표는 높은 현재 수익을 제공하는 것이며, 자본 증가가 두 번째 목표입니다. 이는 전 세계의 채무 및 주식 증권, 폐쇄형 펀드, SPAC, 재보험 및 다양한 채무 상품에 대한 투자로 이루어집니다.
Saba Capital Income & Opportunities Fund II (NYSE: SABA) a annoncé les détails de sa distribution mensuelle pour le 28 février 2025. Le Fonds fournit une distribution mensuelle fixe de 0,058 $ par action dans le cadre de son plan de distribution géré.
Le Fonds note qu'il a probablement distribué plus de ses revenus et des gains en capital nets réalisés, ce qui signifie qu'une partie des distributions pourrait représenter un retour de capital. Cela se produit lorsque les actionnaires reçoivent une partie de leur investissement initial.
Depuis le 1er janvier 2024, Saba Capital Management, L.P. a remplacé Franklin Templeton Advisers en tant que conseiller en investissement du Fonds. L'objectif principal du Fonds est de fournir un revenu courant élevé, avec l'appréciation du capital comme objectif secondaire, à travers des investissements mondiaux dans des titres de dette et des actions, des fonds fermés, des SPAC, de la réassurance et divers instruments de dette.
Saba Capital Income & Opportunities Fund II (NYSE: SABA) hat die Einzelheiten seiner monatlichen Ausschüttung für den 28. Februar 2025 bekannt gegeben. Der Fonds bietet im Rahmen seines verwalteten Ausschüttungsplans eine feste monatliche Ausschüttung von 0,058 $ pro Aktie.
Der Fonds weist darauf hin, dass er wahrscheinlich mehr verteilt hat als sein Einkommen und die realisierten Nettokapitalgewinne, was bedeutet, dass ein Teil der Ausschüttungen einen Rückfluss von Kapital darstellen könnte. Dies geschieht, wenn Aktionäre einen Teil ihrer ursprünglichen Investition zurückerhalten.
Seit dem 1. Januar 2024 hat Saba Capital Management, L.P. Franklin Templeton Advisers als Anlageberater des Fonds ersetzt. Das Hauptziel des Fonds ist es, ein hohes aktuelles Einkommen zu erzielen, während die Kapitalwertsteigerung als sekundäres Ziel dient, durch globale Investitionen in Schulden- und Eigenkapitalwerte, geschlossene Fonds, SPACs, Rückversicherung und verschiedene Schuldtitel.
- Fixed monthly distribution structure provides predictable income
- Diversified investment strategy across multiple asset classes
- Professional management transition to Saba Capital completed
- Distributions may exceed actual income and capital gains
- Return of capital indicates possible unsustainable distribution rate
- Past performance not indicative of future results under new management
IMPORTANT INFORMATION REGARDING MONTHLY DISTRIBUTION
Distribution Notice. Pursuant to Section 19(a) of the Investment Company Act, the Fund is providing its shareholders with an estimate of the source of the Fund's monthly distribution as required by current securities laws.
The Fund’s estimated sources of the distribution to be paid on February 28, 2025 and for the fiscal year 2025 year-to-date are as follows:
Estimated Allocations for the distribution to be paid on February 28, 2025 (estimated as of February 21, 2025):
Distribution Per Share |
Net Investment Income Per Share and Percentage of Such Distribution Amount |
Net Realized Short- Term Capital Gains Per Share and Percentage of Such Distribution Amount |
Net Realized Long- Term Capital Gains Per Share and Percentage of Such Distribution Amount |
Return of Capital Per Share and Percentage of Such Distribution Amount |
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Cumulative Estimated Allocations fiscal year-to-date as of January 31, 2025, for the fiscal year ending October 31, 2025:
Distribution Per Share |
Net Investment Income Per Share and Percentage of Such Distribution Amount |
Net Realized Short- Term Capital Gains Per Share and Percentage of Such Distribution Amount |
Net Realized Long- Term Capital Gains Per Share and Percentage of Such Distribution Amount |
Return of Capital Per Share and Percentage of Such Distribution Amount |
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Shareholders, prospective shareholders, and third parties should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Plan (as defined below). The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the Fund’s distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.” The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.
The determination of the actual source of distributions can only be made at year-end. The actual source amounts of all Fund distributions will be included in the Fund’s annual or semi-annual reports. In addition, the tax treatment may differ from the accounting treatment used to calculate the source of the Fund’s distributions as shown on shareholders’ statements. Shareholders should refer to their Form 1099-DIV for the character and amount of distributions for income tax reporting purposes. The final determination of the source and tax characteristics of all distributions will be made after December 31, 2025 and reported to you on Form 1099-DIV early in 2026. Since each shareholder’s tax situation is unique, it may be advisable to consult a tax advisor as to the appropriate treatment of Fund distributions.
Effective on January 1, 2024, Saba Capital Management, L.P. replaced Franklin Templeton Advisers, Inc. as the investment adviser to Saba Capital Income & Opportunities Fund II (formerly known as the Templeton Global Income Fund). Performance of the Fund prior to January 1, 2024 is not attributable to Saba Capital Management, L.P.
Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on January 31, 2025)1 |
Annualized Distribution Rate (for the current fiscal period as a percentage of NAV as of January 31, 2025)2 |
Cumulative Total Return (in relation to the change in NAV for the current fiscal period through January 31, 2025)3 |
Cumulative Fiscal Year-To- Date Distribution Rate (as a percentage of NAV as of January 31, 2025)4 |
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Fund Performance and Distribution Rate Information:
1Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through January 31, 2025. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions paid.
2The Annualized Distribution Rate is the dollar value of distributions for the current fiscal period November 1, 2024 through January 31, 2025 annualized as a percentage of the Fund’s NAV as of January 31, 2025. The level of distribution amount shown is not guaranteed and special dividends may or may not be paid in the future. Further, no conclusions should be drawn about the Fund’s investment performance from the amount or rate of distribution shown.
3Cumulative Total Return is the percentage change in the Fund’s NAV from October 31, 2024 through January 31, 2025, assuming reinvestment of distributions paid.
4The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the current fiscal period November 1, 2024 through January 31, 2025 as a percentage of the Fund’s NAV as of January 31, 2025. The level of distribution amount shown is not guaranteed and special dividends may or may not be paid in the future. Further, no conclusions should be drawn about the Fund’s investment performance from the amount or rate of distribution shown.
Managed Distribution Plan. The above distribution was declared in accordance with the Fund’s currently effective managed distribution plan (the “Plan”), whereby the Fund will make monthly distributions to shareholders at a fixed amount of
Under the Plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. As a result, long-term capital gains and/or return of capital may be a material source of any distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan. The Board of Trustees (the “Board”) may amend the terms of the Plan or terminate the Plan at any time without prior notice to Fund shareholders. No level of distribution can be guaranteed. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan is subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.
Past Performance is No Assurance of Future Results. Investment return and principal value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. Investors should consider the investment objective, risks and expenses carefully. You can obtain the Fund’s most recent periodic reports and filings by visiting https://www.sec.gov/edgar/browse/?CIK=828803&owner=exclude.
Other Information and Certain Risk Factors: The Fund’s investment objective is to provide investors with high current income, with a secondary goal of capital appreciation. There can be no assurance that the Fund will meet its investment objective. The Fund seeks to achieve this objective by investing globally in debt and equity securities of public and private companies, which includes, among other things, investments in closed‐end funds, special purpose acquisition companies (“SPACs”), reinsurance, and public and private debt instruments. The Fund also may utilize derivatives including but not limited to total return swaps, credit default swaps, options (including but not limited to index options) and futures, in seeking to enhance returns and/or to reduce portfolio risk. In addition, on an opportunistic basis, the Fund may also invest up to
The value of the Fund’s investments in equity securities of public and private, listed and unlisted companies and equity derivatives generally varies with the performance of the issuer and movements in the equity markets more generally. As a result, the Fund may suffer losses if it invests in equity instruments of issuers whose performance diverges from the Fund’s investment manager’s expectations or if equity markets generally move in a single direction and the Fund has not hedged against such a general move. The Fund may invest in closed-end funds and SPACs, which are subject to additional risks and considerations. The performance of reinsurance-related securities and the reinsurance industry itself are tied to the occurrence of various triggering events, including but not limited to weather, natural disasters (hurricanes, earthquakes, etc.), non-natural large catastrophes and other specified events causing physical and/or economic loss. To the extent the Fund invests in reinsurance-related securities for which a triggering event occurs, losses associated with such event could result in losses to the Fund’s investment, and a series of major triggering events affecting a large portion of the reinsurance- related securities held by the Fund could result in substantial losses to the Fund’s investment. The Fund may invest in high yield securities, which are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. Changes in short-term market interest rates may directly affect the yield on the Fund’s common shares. If such rates fall, the Fund’s yield may also fall. If interest rate spreads on bonds and loans owned by the Fund decline in general, the yield on the bonds and loans will likely fall and the value of such bonds and loans may decrease. When short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on bonds and loans in the Fund’s portfolio, the impact of rising rates will be delayed to the extent of such lag. Because of the limited secondary market for certain bonds and loans, the Fund’s ability to sell such securities in a timely fashion and/or at a favorable price may be limited. An increase in the demand for bonds and loans may adversely affect the rate of interest payable on new bonds and loans acquired by the Fund, and it may also increase the price of bonds and loans purchased by the Fund in the secondary market. A decrease in the demand for bonds and loans may adversely affect the price of bonds and loans in the Fund’s portfolio, which would cause the Fund’s net asset value to decrease. Investment in foreign borrowers involves special risks, including but not limited to potentially less rigorous accounting requirements, differing legal systems and potential political, social and economic adversity. The Fund may engage in currency exchange transactions to seek to hedge, as closely as practicable, all of the economic impact to the Fund arising from foreign currency fluctuations. Other risks include, but are not limited to, the use of derivatives, the potential lack of diversification in the Fund’s portfolio, and the fact that the Fund’s portfolio may be concentrated in a small group of industries or industry sectors from time to time. Investors should consult the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website for a more detailed discussion of these or other risk factors that affect the Fund.
About Saba Capital Income & Opportunities Fund II. Saba Capital Income & Opportunities Fund II is a publicly-traded registered closed-end management investment company. The Fund’s common shares trade on the New York Stock Exchange under the ticker symbol “SABA”. The Fund is managed by Saba Capital Management, L.P.
Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors, including but not limited to the “Certain Risk Factors” noted above, are identified from time to time in the Fund’s filings with the Securities and Exchange Commission as well as the materials on the Fund’s website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.
For further information on Saba Capital Income & Opportunities Fund II, please visit our website at: www.sabacef.com.
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888-888-0319
Source: Saba Capital Income & Opportunities Fund II
FAQ
What is the monthly distribution amount for SABA shareholders in February 2025?
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