Managed High Yield Plus Fund Inc. – Continuation of Waivers Reducing Management Fees
18 Julio 2013 - 4:05PM
Business Wire
Managed High Yield Plus Fund Inc. (the "Fund") (NYSE: HYF) is a
closed-end management investment company seeking high income and,
secondarily, capital appreciation, primarily through investments in
lower-rated, income producing debt and related equity
securities.
The Fund today announced the extension of the voluntary fee
waiver arrangement with UBS Global Asset Management (Americas) Inc.
(“UBS Global AM”), the Fund’s investment manager and administrator.
Pursuant to its management and administration contract with UBS
Global AM (the "Management Contract"), the Fund pays UBS Global AM
an investment management and administration fee, accrued weekly and
paid monthly, at the annual rate of 0.70% of the Fund's average
weekly total assets minus liabilities other than the aggregate
indebtedness constituting leverage. For the period from August 1,
2009, through July 31, 2013, UBS Global AM had voluntarily agreed
to waive a portion of the fee it received under the Management
Contract, so as not to exceed the annual rate of 0.55% of the
Fund's average weekly total assets minus liabilities, other than
the aggregate indebtedness constituting leverage. Effective August
1, 2013, UBS Global AM has agreed to extend this voluntary fee
waiver through July 31, 2014.
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