Herzfeld Caribbean Basin Fund files proxy for June 17 vote on CLO equity strategy
The Herzfeld Caribbean Basin Fund filed preliminary proxy materials for a special stockholder meeting on June 17, 2025, seeking approval to shift its strategy toward a CLO equity focus with a total return objective. The proposals would also allow the adviser to receive a fee based on managed assets plus an incentive fee, and would change fundamental investment policies, so stockholders would be asked to approve a material change to the fund's approach and fee structure.
Key points
- Special meeting set for June 17, 2025, at 10:00 a.m. Eastern Time at the fund's Miami Beach, Florida offices; record date is May 5, 2025.
- Proposal 1 would allow Thomas J. Herzfeld Advisors, Inc. to receive a managed assets fee and an incentive fee.
- Proposal 2 would change the primary objective to maximizing risk adjusted total returns, with high current income as secondary, and focus investment on equity and junior debt tranches of CLOs.
- Proposal 3 would amend fundamental policies on borrowing, senior securities, underwriting, industry concentration, real estate, commodities, and loans. Approval requires a majority of outstanding voting securities; the definitive proxy is e
The filing
Written by AI on Nov 9, 2026, 8:29 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.