BlackRock directors keep seats at six funds in proxy battle with Saba

NEW YORK, June 25 (Reuters) – BlackRock held onto board seats at six closed end funds last week after investment firm Saba Capital Management did not secure enough votes to replace directors or fire the fund manager, according to data released by BlackRock on Tuesday.

“Based on the preliminary results from last week’s shareholder meetings, it is clear that shareholders have rejected both Saba’s nominees and its efforts to displace BlackRock as investment advisor to the Funds,” BlackRock said in a statement. The results have not been previously report.