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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 uses a table to highlight the misalignment between the board's compensation (AUM-based) and Saba's (share price-based).",
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      "kind": "callout",
      "text": "We have been the largest shareholder and activist in other funds with far more illiquid portfolios that have been wound down in value-maximizing frameworks. Our breadth of experience would help ensure a smooth transition for ASA.",
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      "text": "Despite Merk's claims... Saba estimates that approximately 60% of ASA's NAV is in companies where the Fund holds less than 10 days volume.\nIf there is an advisor transition... Saba would be comfortable with the new manager taking as long as necessary.\nAs ASA's largest shareholder, Saba is completely aligned...",
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      "text": "Merk Investments blog post, 3/18/2024.",
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      "kind": "table",
      "text": "Person/Firm, Shares Owned, Compensation from Fund; Axel Merk, 124,644, $2,300,000; William Donovan, 4,000, $48,000; Bruce Hansen, 4,000, $55,500; Mary Joan Hoene, 8,000, $63,000; Saba Capital, 3,253,837, ZERO",
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      "kind": "title",
      "text": "We Are Completely Aligned with Our Fellow Shareholders",
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