# Premium Income Fund



## agent99 (Sep 11, 2013)

I have quite a bit in the pfd shares of this split plus a little in the capital shares.

They have announced a special retraction right.

Capital Shares



> Terms:
> 
> The Special Retraction Right will replace the Annual Concurrent Retraction right for each year in which a Special Retraction Date occurs.
> 
> ...


Preferreds



> Terms:
> 
> The Special Retraction Right will replace the Annual Concurrent Retraction right for each year in which a Special Retraction Date occurs.
> 
> ...


Unless there is something I don't understand, why would anyone (at least with an on-line trading account) pay $15 to retract their shares at NAV on a date chosen by fund manager? We can sell at any time for $9.95 at market price which is generally slightly above NAV.

Looks like they probably need to rebalance preferreds and capital shares, so we may have some redeemed whether we like it or not?


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