On August 22, 2023, Saba Capital Management, L.P. added 70,533 shares of Nuveen Multi-Asset Income Fund (NMAI, Financial) to its portfolio. The transaction saw a 2.09% change in the firm's holdings, with an impact of 0.02% on the portfolio. The shares were acquired at a price of $11.7 each. Nuveen Multi-Asset Income Fund is a closed-end management investment company based in the USA, focusing on total return, comprised of income or distributions and capital appreciation. The company operates in a single segment.
Details of the Transaction
The transaction increased Saba Capital Management's total shares in NMAI to 3,446,284, representing 1.05% of the firm's portfolio. The firm now holds a 10.31% stake in NMAI. The acquisition of the shares at $11.7 each underscores the firm's confidence in the future performance of NMAI. The transaction is significant as it indicates the firm's strategic investment decisions and its belief in the potential of NMAI.
Profile of Saba Capital Management, L.P.
Saba Capital Management, L.P. is a New York-based investment firm. The firm manages a portfolio of 624 stocks, with a total equity of $3.84 billion. Its top holdings include 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 investments are primarily concentrated in the Financial Services and Technology sectors.
Analysis of Nuveen Multi-Asset Income Fund's Stock
Nuveen Multi-Asset Income Fund, trading under the symbol NMAI, has a market capitalization of $391.081 million. The stock's PE percentage is currently not applicable, indicating that the company is at a loss. The GF Value of the stock cannot be evaluated due to insufficient data. The stock's price to GF Value is also not applicable. The stock has not gained since the transaction and has seen a -25.62% change since its IPO. The year-to-date price change ratio stands at 0.86. The GF Score of the stock is 19/100, indicating poor future performance potential.
Evaluation of Nuveen Multi-Asset Income Fund's Performance
Nuveen Multi-Asset Income Fund's financial health is evaluated based on its balance sheet rank, profitability rank, and growth rank. The company's balance sheet rank is 5/10, indicating moderate financial strength. The profitability rank is 1/10, suggesting low profitability. The growth rank is 0/10, indicating no growth. The company's Z score and cash to debt ratio are not applicable due to insufficient data.
Analysis of Nuveen Multi-Asset Income Fund's Industry Performance
Nuveen Multi-Asset Income Fund operates in the Asset Management industry. The company's ROE is -26.22, and its ROA is -17.19, indicating low profitability. The company's gross margin growth, operating margin growth, and 3-year revenue, EBITDA, and earning growth are all not applicable due to insufficient data.
Conclusion
In conclusion, Saba Capital Management, L.P.'s acquisition of shares in Nuveen Multi-Asset Income Fund is a strategic investment decision that reflects the firm's confidence in the future performance of NMAI. Despite the current financial performance of NMAI, the firm's investment could yield significant returns in the future. This transaction provides valuable insights for value investors looking to make informed investment decisions.
