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  "documentTitle": "Saba Capital Management | Activist Presentation Deck | 33 slides",
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  "authorName": "Saba Capital",
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  "presentationDate": "2024-03-01 00:00:00",
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  "notes": "The slide argues that Merk's business model is overly dependent on the ASA fund, creating a conflict of interest.",
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      "text": "Merk Investments website.",
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      "text": "Sponsor, Ticker, Assets, Annual Fees; Merk, STGF, Liquidated; VanEck/Merk, OUNZ, 842mln, 1.5mln; Merk, ASA, 350mln, 2.3mln",
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      "text": "We estimate that ASA makes up more than 75% of Merk's revenue, which explains its desperation to maintain those revenues at any expense to investors.",
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      "text": "We Believe Merk Is Solely Focused on Retaining the Revenue of ASA – Even to the Detriment of Shareholders",
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