WesternInvestment LLC has submitted proposals to declassify the boards ofcertain Deutsche Investment Management funds to provide for an annual electionof members.
Western Investment, together with certain affiliates andother group members, beneficially owns about 5.7% of Deutsche Multi-MarketIncome Trust's outstanding common shares and about 5.8% of Deutsche StrategicIncome Trust's outstanding common shares.
Western Investment has also nominated candidates forelection as directors to the funds' respective boards.
Western Investment said in a news release that it believesthe proposals would provide greater accountability of each fund's board tostockholders. The boards' declassification would also bring the funds'corporate governance practices more in-line with the recommended governancepractices adopted by proxy advisory firms Institutional Shareholder Servicesand Glass Lewis and with the majority of domestic companies in the S&P 500and Russell 1000 indexes.
Western Investment also said that it is dismayed the fundshave wasted shareholder assets in its efforts to seek to block or change theproposals and/or statements Western Investment submitted.
The proposals will be considered at the funds' 2016 annual stockholders' meetings.
Deutsche Investment Management is an affiliate of .