Saba Capital Income & Opportunities Fund
BRW
DAILY DATA
As of
Net Asset Value (NAV)1
Closing Price
Price Change
Premium / Discount (%)
Current Distribution Rate2

OVERVIEW

Investment Objective

Saba Capital Income & Opportunities Fund (the “Fund”) seeks to provide investors with a high level of current income, with a secondary goal of capital appreciation.

About this Product

  • The Fund is a registered closed-end management investment company listed on the New York Stock Exchange under the ticker: BRW.
  • The Fund will invest in high yield credit.
  • The Fund will also opportunistically invest in other products, such as, closed-end funds and special purpose acquisition companies.
  • The Fund will also use derivatives where it believes it can achieve attractive risk-adjusted returns as a way to reduce portfolio risk.

Portfolio Management

PERFORMANCE

Most Recent Month End as of 5

Expense Ratios
Gross Net
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Most Recent Quarter End as of 5

Expense Ratios
Gross Net
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Inception Date - Class A: May 12, 1988

The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. See above "Performance" for performance information current to the most recent month-end.

The returns are presented net of fees, which includes the deduction of expenses (including brokerage commissions, administrative expenses, management fees and accrued performance allocations, if any) and the reinvestment of all dividends, interest, and capital gains, if any.

Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of the period and a sale at net asset value at the end of the period; and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Net asset value equals total Fund assets net of Fund expenses such as operating costs and management fees. Total investment return at net asset value is not annualized for periods less than one year.

Saba Capital Management has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, investor relations services, and other investment-related costs, leverage expenses, and extraordinary expenses such as litigation, other expenses not incurred in the ordinary course of business, and expenses of any counsel or other persons or services retained by the Fund's Trustees. The expense agreement shall automatically renew for one-year terms unless otherwise terminated in accordance with the provisions outlined in the agreement. The initial term of the expense agreement expires on July 1, 2022. The Expense Ratios include expense waivers to average net assets and the Gross Expense Ratio includes interest expense and other fees related to the revolving credit facility to average net assets.

Shares are bought and sold at market price not net asset value (NAV) and are not individually redeemed from the Fund. Market performance is determined using the bid/ask midpoint at 4:00 p.m. Eastern time when the NAV is typically calculated. Brokerage commissions will reduce returns.

5Effective after the close of business on June 4, 2021, Saba Capital Management, LP became the manager of the Fund. Performance of the Fund prior to the close of business on June 4, 2021 is not attributable to Saba Capital Management, LP.

6The market price is determined using the last trade on the listing exchange at the time that the fund's NAV is calculated. Assumes reinvestment of distributions based on the dividend reinvestment and cash purchase plan.

PORTFOLIO*

PORTFOLIO STATISTICS

Portfolio Composition

SECTOR WEIGHTINGS

Sector weightings do not include CEFs and pre-merger SPACs.

TOP COUNTRY WEIGHTINGS

Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.

* Information will be updated on a fiscal quarter basis.

DISTRIBUTIONS

Distributions data is unavailable at this time.
Ex-Date Payable Date Ordinary Dividends Short Term Capital Gains Long Term Capital Gains Return of Capital Total2
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Access Section 19 notices.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. The final determination of the tax characteristics cannot be determined until after year end and reported to shareholders on Form 1099-DIV at that time.

To obtain an estimate of the components for each distribution please refer to the distribution press releases.  

The Fund intends to make regular quarterly distributions based on the past and projected performance of the Fund.  

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time, depending on whether the Fund has gains or losses on the call options written on its portfolio versus gains or losses on the equity securities in the portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of quarterly distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of distributions on the common shares will change. There can be no assurance that the Fund will be able to declare a distribution in each period.

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FOR ADMINISTRATIVE REQUESTS RELATED TO BRW:

+1 844-460-9411
BRWSabaCapital@dstsystems.com

FOR ANY OTHER QUESTIONS PLEASE EMAIL:

BRW@SABACAPITAL.COM

SABA CAPITAL MANAGEMENT, L.P.

405 LEXINGTON AVENUE
58TH FLOOR
NEW YORK, NY 10174
+1 212-542-4644

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