BOSTON, Nov. 19, 2020 /PRNewswire/ -- Eaton Vance Senior Income Trust (NYSE: EVF) (the "Fund") announced today the results of its Annual Meeting of Shareholders held on November 12, 2020 (the "Meeting") for the election of four members of the Fund's board of trustees ("Board") to serve three-year terms ending in 2023.
Incumbent Class I Trustee Valerie A. Mosley was elected to a new term as a Class I Trustee by the Fund's Auction Preferred shareholders. Incumbent Class I Trustees Thomas E. Faust Jr., Cynthia E. Frost and Susan J. Sutherland will continue to serve as Class I Trustees because none of the candidates presented for election by the Fund's Common and Auction Preferred shareholders received the requisite vote. Pursuant to the Fund's Amended and Restated By-Laws, when none of such candidates receive the requisite vote, the incumbent Trustees remain in office for a new three-year term.
The individuals named on the Fund's proxy cards proposed to adjourn the Meeting to permit further solicitation with respect to the three Class I Trustee positions subject to election by the Common and Auction Preferred shareholders ("Adjournment"). Such individuals believed that further solicitation of proxies would have resulted in a higher vote total. A representative of Saba Capital Management, L.P. ("Saba"), as proxy for votes solicited for the Meeting on the gold proxy card supported by Saba, voted against the proposed Adjournment, resulting in the proposed Adjournment not being approved.
The vote tabulations, as certified by the Fund's independent inspector of election, First Coast, Results, Inc., will be published in the Fund's next report to shareholders.
The Fund's investment adviser is Eaton Vance Management, a subsidiary of Eaton Vance Corp. Eaton Vance Corp. (NYSE: EV) provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Calvert and Hexavest, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. As of September 30, 2020, Eaton Vance had consolidated assets under management of $517.0 billion. For more information, visit eatonvance.com.
Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. The Fund is not a complete investment program and you may lose money investing therein. An investment in the Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses.
This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund. Additional information about the Fund, including performance and portfolio characteristic information, is available at www.eatonvance.com.
Statements in this press release that are not historical facts are forward-looking statements as defined by the U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.
SOURCE Eaton Vance Management