Two Deutsche closed-end funds declares termination of trust and liquidating distribution by year end 2018 and agenda for shareholders' annual meeting.
M2 EQUITYBITES-July 14, 2016-Two Deutsche closed-end funds declares termination of trust and liquidating distribution by year end 2018 and agenda for shareholders' annual meeting
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The board of trustees of Deutsche Multi-Market Income Trust (NYSE:KMM) and Deutsche Strategic Income Trust (NYSE:KST) (each a fund and together the funds) authorised the termination of each under which, each fund will make a liquidating distribution to shareholders by 31 December 2018, the funds disclosed on Thursday.
Also, each fund stated that the annual shareholder meeting called for on 30 September 2016, would be held to consider the election of trustees; and a proposal submitted by a shareholder requesting that the board take the necessary steps to declassify itself. Details of the proposals will be in the proxy statement for the same meeting, they added.
Finally, each fund, its directors, executive officers and other members of management may be deemed to be participants in any future solicitation of its security holders, related to its 2016 annual meeting. Shareholders may obtain information about the names, affiliations and interests of such individuals in each fund's Certified Shareholder Report on Form N-CSR for the year ended 30 November 2015 and its proxy statement for the 2016 annual meeting, when available.
Closed end funds, (NYSE:KMM) seeks to provide high income consistent with prudent total return by investing in different income-producing securities such as US corporate fixed-income securities and debt obligations of foreign governments, their agencies and instruments which may be denominated in foreign currencies and may not be rated. (NYSE:KST) aims to provide high current income by investing its assets in a combination of lower-rated, corporate fixed-income securities; fixed-income securities of emerging markets and other foreign issuers; and fixed-income securities of the US government and its agencies and instrumental and mortgage-backed issuers.
Deutsche Asset Management represents the asset management activities conducted by Deutsche Bank AG or any of its subsidiaries. Deutsche Asset Management's products or services are provided by one or more legal entities.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jul 14, 2016|
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