Pioneer Floating Rate Trust Confirms Receipt of Notice From Saba; Shareholders Not Required to Take Any Action at This Time
May 06 2020 - 4:51PM
Business Wire
Pioneer Floating Rate Trust (NYSE: PHD) (the “Fund”) today
confirmed that it has received a notice from Saba Capital Master
Fund, Ltd. (“Saba”) regarding its intent to nominate three
candidates for election to the Fund’s Board of Trustees at the
Fund’s 2020 Annual Meeting of Shareholders and to present a
shareholder proposal.
Fund shareholders are not required to take any action at this
time. The Fund’s definitive proxy statement to be filed with the
Securities and Exchange Commission in connection with its 2020
Annual Meeting of Shareholders will present formal recommendations
regarding Saba’s candidates and proposal.
About Pioneer Floating Rate Trust
Pioneer Floating Rate Trust is an NYSE listed closed-end fund
that seeks a high level of current income. It also seeks capital
preservation as a secondary objective to the extent consistent with
its primary objective.
About Amundi Pioneer Asset Management
Amundi Pioneer is the U.S. business of Amundi, Europe’s largest
asset manager by assets under management and ranked among the ten
largest globally[1]. Boston is one of Amundi’s six main global
investment hubs and offers a broad range of fixed-income, equity,
and multi-asset investment solutions in close partnership with
wealth management firms, distribution platforms, and institutional
investors across the Americas, Europe, and Asia-Pacific. Our long
history of proprietary research, robust risk management,
disciplined investment processes, and strong client relationships
has made Amundi Pioneer an investment advisor of choice among
leading institutional and individual investors worldwide. Amundi
Pioneer had approximately $78 billion in assets under management as
of March 31, 2020.
[1] Source IPE “Top 400 asset managers” published in June 2019
and based on AUM as of end December 2018.
Important Additional Information and Where To Find It
The Fund intends to file a proxy statement and accompanying
WHITE proxy card with the SEC in connection with the solicitation
of proxies from the Fund’s shareholders in connection with the
matters to be considered at the Fund’s 2020 Annual Meeting of
Shareholders. INVESTORS AND SHAREHOLDERS ARE STRONGLY ENCOURAGED TO
READ ANY SUCH PROXY STATEMENT AND THE ACCOMPANYING WHITE PROXY CARD
AND OTHER DOCUMENTS FILED BY THE FUND WITH THE SEC CAREFULLY AND IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN
IMPORTANT INFORMATION. Shareholders will be able to obtain the
Proxy Statement, any amendments or supplements to the Proxy
Statement, the accompanying WHITE proxy card, and other documents
filed by the Fund with the SEC free of charge at the SEC’s website
at www.sec.gov. Copies will also be available free of charge at the
Fund’s website at
https://www.amundipioneer.com/us/Products/Closed-End-Funds, by
writing to the Fund’s Secretary at Pioneer Floating Rate Trust, 60
State Street, Boston, Massachusetts 02109, or by contacting the
Fund at 800-225-6292.
The Fund’s Trustees, executive officers, and certain persons
associated with the Fund’s investment adviser and its parent
company are deemed participants in the solicitation of proxies from
the Fund’s shareholders in connection with the matters to be
considered at the Fund’s 2020 Annual Meeting of Shareholders.
Information regarding the names of the Fund’s Trustees, executive
officers, and certain persons associated with the Fund’s investment
adviser and its parent company and their respective direct or
indirect interests in the Fund by security holdings or otherwise
can be found in the Fund’s proxy statement for its 2019 Annual
Meeting of Shareholders, filed with the Securities and Exchange
Commission (“SEC”) on August 5, 2019. To the extent holdings of the
Fund’s securities have changed since the amounts set forth in the
Fund’s proxy statement for its 2019 Annual Meeting of Shareholders,
such changes have been reflected on Initial Statements of
Beneficial Ownership on Form 3 or Statements of Change in Ownership
on Form 4 filed with the SEC. These documents are available free of
charge at the SEC’s website at www.sec.gov.
Additional information regarding the Fund’s Trustees, executive
officers, and certain persons associated with the Fund’s investment
adviser, its parent company, and other participants in the
solicitation of proxies from the Fund’s shareholders in connection
with the matters to be considered at the Fund’s 2020 Annual Meeting
of Shareholders, and their respective direct or indirect interests
in the Fund, through security holdings or otherwise, will be set
forth in the Fund’s proxy statement for its 2020 Annual Meeting of
Shareholders, including the schedules and appendices thereto.
Visit amundipioneer.com/us for more information.
Follow us on www.linkedin.com/company/amundi-pioneer and
https://twitter.com/amundipioneer.
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version on businesswire.com: https://www.businesswire.com/news/home/20200506006106/en/
Media Inquiries Please Contact: Geoff Smith 617-504-8520
geoff.smith@amundipioneer.com
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