Montgomery Street Income Securities, Inc. Announces New Administrator
June 18 2015 - 12:06PM
Business Wire
Montgomery Street Income Securities, Inc. (NYSE: MTS) (the
“Fund”) announced today that it has appointed Atlantic Fund
Services (“Atlantic”) as the new administrator of the Fund,
effective August 1, 2015. In connection with this appointment,
Stacey E. Hong will become the President and Chief Executive
Officer, and Michael J. McKeen will become Treasurer and Chief
Financial Officer, of the Fund. Messrs. Hong and McKeen are
affiliated with Atlantic.
The scope of services to be provided by Atlantic and the fees to
be paid by the Fund for these services are expected to be
essentially the same as those under the agreement with the Fund’s
current administrator.
The Fund is a closed-end diversified management investment
company whose primary investment objective is to seek as high a
level of current income as is consistent with prudent investment
risks, from a diversified portfolio primarily of debt securities.
The Fund’s shares are traded on the New York Stock Exchange under
the symbol MTS.
Closed-end funds, unlike open-end funds, are not continuously
offered. There is generally a one-time public offering and, once
issued, shares of closed-end funds are sold in the open market
through a stock exchange. Shares of closed-end funds frequently
trade at a discount to net asset value.
The price of the Fund’s shares is determined by a number of
factors, several of which are beyond the control of the Fund.
Therefore, the Fund cannot predict whether its shares will trade
at, below or above net asset value.
Investments in funds involve risk. Yields and market values will
fluctuate. Investing in foreign markets presents certain unique
risks not associated with domestic investments, such as currency
fluctuations, political and economic changes and market risks.
Additionally, the Fund invests in lower-quality and non-rated
securities, which present greater risks of loss of principal and
interest than higher-quality securities. All of these factors may
result in greater share price volatility.
This announcement is not an offer to purchase or the
solicitation of an offer to sell shares of the Fund, a prospectus,
a circular or representation intended for use in the purchase or
sale of Fund shares, or a proxy solicitation.
NOT FDIC/NCUA INSURED MAY LOSE VALUE NO BANK
GUARANTEE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150618006131/en/
For stockholder inquiries:Computershare Shareowner
Services(877) 437-3938orFor media
inquiries:Melissa Hernandez(303) 224-7572 or (800)
565-9044 x 57572
(NYSE:MTS)
Historical Stock Chart
From May 2024 to Jun 2024
(NYSE:MTS)
Historical Stock Chart
From Jun 2023 to Jun 2024