Salomon Brothers Announces Launch of Salomon Brothers Capital and Income Fund Inc.
25 Fevereiro 2004 - 11:00AM
PR Newswire (US)
Salomon Brothers Announces Launch of Salomon Brothers Capital and
Income Fund Inc. NEW YORK, Feb. 25 /PRNewswire-FirstCall/ --
Salomon Brothers Asset Management Inc ("SBAM") announced that
Salomon Brothers Capital and Income Fund Inc. ("the Fund") began
trading today on the New York Stock Exchange under the symbol
"SCD." The Fund is a newly organized, non-diversified closed- end
management investment company whose investment objective is total
return with an emphasis on income. The Fund will invest, under
normal market conditions, in a broad range of equity and fixed
income securities of both U.S. and foreign issuers. In an effort to
maximize returns, the Fund may employ leverage through borrowings,
the use of mortgage dollar rolls and/or reverse repurchase
agreements up to approximately 33% of its total assets. However,
the Fund may not be leveraged at all times, and the amount of
leverage may vary. The Fund raised approximately $683 million
during its recent initial public offering of common shares,
assuming full exercise of the underwriters' overallotments, which
may not necessarily occur. Citigroup Global Markets Inc. was the
lead manager of the underwriting syndicate. The Fund will be
managed by SBAM, which is relied on by some of theworld's largest
institutions for global fixed income investment management. SBAM
was established in 1987 and, together with SBAM affiliates in
London, Tokyo, and Hong Kong, provides a broad range of fixed
income and equity investment management services to individuals and
institutional clients throughout the world. It is an indirect
wholly owned subsidiary of Citigroup Inc. Shares of closed-end
exchange-traded investment companies, like the Fund, usually trade
on a national stock exchange. Like other stocks, share prices will
fluctuate with market conditions and, at the time of sale, may be
worth more or less than the original investment. Shares of
closed-end exchange- traded funds often trade at a discount to
their net asset value, and may also trade at a discount to their
original offering price. The Fund's use of leverage may cause
greater volatility in the net asset value of its shares. For a
prospectus and more complete information about Salomon Brothers
Capital and Income Fund Inc., including risk considerations,
charges and expenses, please contact a financial advisor or Salomon
Brothers Asset Management at 1-888-777-0102. A copy of the
prospectus is also available on the Salomon Brothers Asset
Management web site at http://www.sbam.com/ . Investors should read
the prospectus carefully before they invest. DATASOURCE: Salomon
Brothers Asset Management Inc CONTACT: Brenda Grandell, Director,
Closed-End Funds, Citigroup Asset Management, +1-212-291-3775, or
Investor Relations forCitigroup Asset Management, 1-888-777-0102
Web site: http://www.sbam.com/
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