On September 21, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 3917937 shares of Nuveen Multi-Asset Income Fund (NMAI, Financial) to its portfolio. The transaction resulted in a 1.57% change in the firm's holdings, with an impact of 0.02% on its portfolio. The shares were acquired at a price of $11.34 each, slightly higher than the current stock price of $11.32.
Nuveen Multi-Asset Income Fund, a single-segment company based in the USA, operates as a closed-end management investment company. The firm focuses on total return, comprising income or distributions and capital appreciation. As of the date of this article, the company has a market capitalization of $378.378 million.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is an investment firm with a portfolio of 624 stocks. The firm's equity stands at $3.84 billion, with its top holdings in Templeton Global Income Fund(GIM, Financial), BlackRock Capital Allocation Trust(BCAT, Financial), BlackRock Health Sciences Trust II(BMEZ, Financial), BlackRock Innovation & Growth Tr(BIGZ, Financial), and BlackRock ESG Capital Allocation Trust(ECAT, Financial). The firm's top sectors are Financial Services and Technology.
Analysis of the Transaction
The acquisition of NMAI shares by Saba Capital Management, L.P. (Trades, Portfolio) has increased the firm's position in the traded stock to 1.16%. The firm now holds 11.72% of the total shares of NMAI. This transaction is expected to have a significant impact on the firm's portfolio, given the size of the acquisition and the potential for capital appreciation.
Overview of Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund (NMAI, Financial) is a USA-based company with a single-segment operation. The company's GF Score is 16/100, indicating a poor future performance potential. The company's financial strength is rated 4/10, with a profitability rank of 1/10 and a growth rank of 0/10. The company's ROE and ROA stand at 4.58 and 2.98, respectively.
Financial Health of Nuveen Multi-Asset Income Fund
Based on the GF Score, Financial Strength, Profitability Rank, and Growth Rank, Nuveen Multi-Asset Income Fund's financial health appears to be weak. The company's Altman Z score and interest coverage are not available, indicating a lack of sufficient data for evaluation.
Industry Performance
Nuveen Multi-Asset Income Fund operates in the Asset Management industry. The company's performance cannot be compared with the industry average due to insufficient data. However, the company's ROE and ROA ranks are 684 and 642, respectively, indicating a relatively low return on equity and assets compared to other companies in the industry.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of shares in Nuveen Multi-Asset Income Fund is a significant addition to its portfolio. However, the financial health and performance of NMAI appear to be weak, which may impact the potential returns from this investment. Value investors should carefully consider these factors before making investment decisions.
