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01.11.2019 14:55
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The Swiss Helvetia Fund, Inc. Announces Results Of The 2019 Annual Meeting Of Stockholders
Ein Arzt berät einen Patienten (Symbolbild).
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PR Newswire
NEW YORK, Nov. 1, 2019
NEW YORK, Nov. 1, 2019 /PRNewswire/ -- The Swiss Helvetia Fund, Inc. (NYSE: SWZ), a non-diversified registered closed-end investment company (the "Fund"), announced today that the 2019 Annual Meeting of Stockholders, initially scheduled for and convened on October 3, 2019 and adjourned until October 31, 2019, was held as scheduled and concluded. Based upon the voting results, Richard Dayan and Moritz Sell were elected as Class I Directors to serve for a one-year term and stockholders ratified the selection by the Fund's Board of Directors of Tait, Weller & Baker, LLP as the Fund's independent registered public accounting firm for the year ending December 31, 2019.
Although the votes cast for each of the following proposals exceeded the votes cast against, none of these proposals passed as they did not receive the required affirmative vote of a majority of the outstanding voting securities of the Fund:*
- To approve the proposed Investment Advisory Agreement between the Fund and Bulldog Investors, LLC
- To approve the replacement of the Fund's fundamental investment objective with a non-fundamental investment objective of providing total return
- To approve amendments to certain of the Fund's fundamental investment restrictions
Therefore, the Fund will continue to be managed to seek to meet its objective of long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. The Board of Directors intends to review the voting results and determine what actions, if any, are appropriate.
About The Swiss Helvetia Fund, Inc.
The Fund (www.swzfund.com) is a non-diversified, closed-end investment company seeking long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. Its shares are listed on the NYSE under the symbol "SWZ." The Fund seeks to achieve its investment objective by investing generally in Swiss equity and equity-linked securities that are traded on a Swiss stock exchange, traded at the pre-bourse level of one or more Swiss stock exchanges, traded through a market maker or traded over the counter in Switzerland. The Fund also may invest in Swiss equity and equity-linked securities of Swiss companies that are traded on other major European stock exchanges.
Closed-end funds, unlike open-end funds, are not continuously offered. Typically, 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.
The Fund is managed by Schroder Investment Management North America Inc.
About Schroder Investment Management North America Inc.
Schroder Investment Management North America Inc. and Schroder Investment Management North America Limited, investment advisors registered with the U.S. SEC, are units of Schroders plc (SDR.L), a global asset management company with approximately $555.5 billion in assets under management as of September 30, 2019. Schroder's clients include major financial institutions including banks and insurance companies, as well as local and public authorities, public and private pension funds, endowments and foundations, intermediaries and advisors, as well as high net worth individuals and retail investors. The firm has built one of the largest networks of offices of any dedicated asset management company with more than 500 portfolio managers and analysts covering the world's investment markets, offering a comprehensive range of products and services.
Schroder Investment Management North America Inc. provides asset management products and services to clients in the U.S. and Canada. Schroder Investment Management North America Inc. is an indirect, wholly-owned subsidiary of Schroders plc, a U.K. public company with shares listed on the London Stock Exchange.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of the Fund's shares in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
* Under the 1940 Act, the vote of a "majority of the outstanding voting securities" means the affirmative vote of the lesser of (a) 67% or more of the shares present at the Meeting or represented by proxy if the holders of 50% of the outstanding shares are present or represented by proxy, or (b) more than 50% of the outstanding voting shares.
Contact:
Jennifer Brogadir
212-641-3863
View original content:http://www.prnewswire.com/news-releases/the-swiss-helvetia-fund-inc-announces-results-of-the-2019-annual-meeting-of-stockholders-300949873.html
SOURCE The Swiss Helvetia Fund, Inc.
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