DEF: Credit Suisse Asset Management Income Fund Inc. Announces Annual Meeting of Shareholders

Credit Suisse Asset Management Income Fund Inc. will hold its annual meeting of shareholders on April 22, 2025, to elect three directors and consider other business matters.

Summary

• Credit Suisse Asset Management Income Fund, Inc. is holding its Annual Meeting of Shareholders on April 22, 2025, at the offices of UBS Asset Management (Americas) LLC in New York.
• The primary purpose of the meeting is to elect three directors of the Fund.
• The Board of Directors recommends voting FOR the election of the nominated directors.
• The record date for determining shareholders eligible to vote is March 13, 2025.
• Proxy materials are being mailed to shareholders on or about March 20, 2025.
• Shareholders are encouraged to submit their proxies promptly.
• The fund has retained EQ Fund Solutions, LLC for proxy solicitation services, with fees not to exceed $1,500 plus expenses.
• As of the record date, there were 54,812,003 shares outstanding, each entitled to one vote.
• The nominees for director are Laura A. DeFelice, Charles W. Gerber, and Lee M. Shaiman.
• The annual compensation for each Non-Interested Director is $23,100 plus $2,100 for each board meeting attended.
• Effective January 1, 2025, each Director will receive an annual retainer of $70,560 for four quarterly meetings and one special meeting.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, indicating a neutral to slightly positive sentiment due to the routine nature of the meeting and the Board's recommendation to vote for the director nominees.

Positives

• The Board is actively engaged in overseeing the Fund's operations and risk management.
• The Audit Committee and Nominating Committee are composed of independent directors.
• Shareholders have the opportunity to nominate candidates for director positions.
• The Fund provides clear information on how shareholders can submit proposals for the 2026 annual meeting.
• The Fund is providing proxy materials both in paper and online for shareholder convenience.

Negatives

• The Fund incurred costs for proxy solicitation, including fees for a professional firm.
• The Fund dismissed PricewaterhouseCoopers LLP (PwC) as the independent registered public accounting firm due to PwCs ceasing to be deemed an independent registered public accounting firm with respect to the Fund after April 30, 2024.
• The Fund engaged Ernst & Young LLP (EY) as the independent registered public accounting firm effective June 19, 2024.

Risks

• The Fund is subject to investment, compliance, operational, and valuation risks.
• The Board recognizes that it is not possible to identify all risks or eliminate their occurrence or effects.
• The Fund relies on UBS AM (Americas) and other service providers for day-to-day risk management.
• The Fund may face challenges in maintaining compliance with evolving regulations.
• The Fund's performance is subject to market conditions and investment risks.

Future Outlook

The Fund will continue to operate under the oversight of the Board of Directors, with ongoing engagement from UBS AM (Americas) and other service providers.

Management Comments

• The Board of Directors has determined that it is in the best interest of shareholders and the Fund to vote FOR the proposal to elect directors.
• Omar Tariq, Chief Executive Officer and President, encourages shareholders to vote their shares.

Industry Context

This announcement is typical for registered investment companies, ensuring compliance with SEC regulations and providing shareholders with the opportunity to participate in corporate governance through the election of directors.

Comparison to Industry Standards

• The structure of the Board, with a majority of independent directors, aligns with industry best practices for fund governance.
• The compensation structure for directors is consistent with that of other closed-end funds.
• The process for shareholder proposals follows SEC guidelines and is similar to other publicly traded companies.
• The engagement of a proxy solicitation firm is a common practice to ensure sufficient shareholder participation in the voting process.
• The fund complex structure is similar to other large asset management firms, such as BlackRock, Vanguard, and Fidelity, which offer a range of investment products under a common management umbrella.

Management Changes

Stakeholder Impact

• Shareholders have the opportunity to vote on the election of directors and influence the Fund's governance.
• The Fund's performance and operations impact shareholders' investment returns.
• The Fund's service providers, including UBS AM (Americas), are responsible for managing the Fund's assets and operations.
• The Fund's activities are subject to regulatory oversight by the SEC.

Next Steps

• Shareholders should review the proxy materials and vote their shares.
• The Fund will hold the Annual Meeting on April 22, 2025.
• The Board will continue to oversee the Fund's operations and risk management.
• The Fund will prepare for the 2026 annual meeting, including soliciting shareholder proposals.

Key Dates