ECAT - BCAT: Attractive Discount And Activist Pressure Heating Up
2024-04-19 15:12:35 ET
Summary
- BlackRock Capital Allocation Term Trust (BCAT) is a closed-end fund that offers exposure to a diversified portfolio of fixed income and equities.
- BCAT's discount has narrowed since November but has widened recently, likely due to increased market volatility.
- Saba Capital Management has increased its ownership in BCAT and is seeking to elect its own nominees to the Board and remove BlackRock as the investment manager.
Written by Nick Ackerman, co-produced by Stanford Chemist.
BlackRock Capital Allocation Term Trust ( BCAT ) is a closed-end fund that provides investors exposure to a diversified portfolio. The CEF invests in both fixed income and equities as a multi-asset fund, and the managers have the flexibility to invest where and how they want based on their outlook. The generally popular Rick Rieder heads this fund....
BCAT: Attractive Discount And Activist Pressure Heating Up