<SEC-DOCUMENT>0001062993-17-000925.txt : 20170214
<SEC-HEADER>0001062993-17-000925.hdr.sgml : 20170214
<ACCEPTANCE-DATETIME>20170214143351
ACCESSION NUMBER:		0001062993-17-000925
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170214
DATE AS OF CHANGE:		20170214
GROUP MEMBERS:		BOAZ R. WEINSTEIN

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CREDIT SUISSE ASSET MANAGEMENT INCOME FUND INC
		CENTRAL INDEX KEY:			0000810766
		IRS NUMBER:				232451535
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-80789
		FILM NUMBER:		17607190

	BUSINESS ADDRESS:	
		STREET 1:		ONE MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010
		BUSINESS PHONE:		212-325-2000

	MAIL ADDRESS:	
		STREET 1:		ONE MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CSAM INCOME FUND
		DATE OF NAME CHANGE:	19990830

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BEA INCOME FUND INC
		DATE OF NAME CHANGE:	19950828

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CS FIRST BOSTON INCOME FUND INC
		DATE OF NAME CHANGE:	19950420

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Saba Capital Management, L.P.
		CENTRAL INDEX KEY:			0001510281
		IRS NUMBER:				800361690
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE
		STREET 2:		58TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174
		BUSINESS PHONE:		212-542-4635

	MAIL ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE
		STREET 2:		58TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>schedule13d.htm
<DESCRIPTION>SC 13D
<TEXT>
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   <TITLE>Saba Capital Management, L.P.: Schedule 13D - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR>Washington, D.C. 20549
</P>
<P align=center><B><FONT size=5>SCHEDULE 13D </FONT></B></P>
<P align=center>Under the Securities Exchange Act of 1934 <BR>(Amendment No.
[__])* </P>
<P align=center><U><B><FONT size=5>Credit Suisse Asset Management Income Fund
</FONT></B></U><BR>(Name of Issuer) </P>
<P align=center><U>Common Shares </U><BR>(Title of Class of Securities) </P>
<P align=center><U>224916106</U><BR>&nbsp;(CUSIP Number) </P>
<P align=center>Saba Capital Management, L.P. <BR>405 Lexington Avenue <BR>58th
Floor <BR>New York, NY 10174 <BR>Attention: Michael D'Angelo <BR><U>(212)
542-4635</U><BR>(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications) </P>
<P align=center><U>February 14, 2017 </U><BR>(Date of Event Which Requires
Filing of This Statement) </P>
<P align=justify>If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule
13d-1(g), check the following box. [X] </P>
<P align=center>(Page 1 of 10 Pages) </P>
<P align=justify>______________________________ <BR>* The remainder of this
cover page shall be filled out for a reporting person's initial filing on this
form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided in a
prior cover page. </P>
<P align=justify>The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).</P>
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<DIV>
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    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No. 224916106</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="33%"><B>Page 2 of 9 Pages</B>
</TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left><B>1</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>NAME OF REPORTING PERSON <BR>&nbsp;
      <BR>Saba Capital Management, L.P. </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>2</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP <BR>&nbsp; <BR>(a) [ ] <BR>(b) [ ] </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>3</B> </TD>
    <TD align=left width="92%" colSpan=3>SEC USE ONLY <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>4</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>SOURCE OF FUNDS <BR>&nbsp; <BR>OO
      (see Item 3) </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>5</B> </TD>
    <TD align=left width="92%" colSpan=3>CHECK BOX IF DISCLOSURE OF LEGAL
      PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) <BR>&nbsp; <BR>[ ]
    </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>6</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>&nbsp; <BR>Delaware </TD></TR>
  <TR vAlign=top>
    <TD align=center colSpan=2 rowSpan=4><BR><BR>NUMBER OF <BR>SHARES
      <BR>BENEFICIALLY <BR>OWNED BY <BR>EACH <BR>REPORTING <BR>PERSON WITH:
      <BR><BR></TD>
    <TD align=center width="5%"><B>7</B> <BR></TD>
    <TD align=left width="77%">SOLE VOTING POWER <BR>&nbsp; <BR>-0- </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%"><B>8</B> </TD>
    <TD align=left width="77%">SHARED VOTING POWER <BR>&nbsp; <BR>5,945,208
  </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%"><B>9</B> <BR></TD>
    <TD align=left width="77%">SOLE DISPOSITIVE POWER <BR>&nbsp; <BR>-0-
</TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%"><B>10</B> <BR></TD>
    <TD align=left width="77%">SHARED DISPOSITIVE POWER <BR>&nbsp;
      <BR>5,945,208 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>11</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH PERSON <BR>&nbsp; <BR>5,945,208 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>12</B> </TD>
    <TD align=left width="92%" colSpan=3>CHECK IF THE AGGREGATE AMOUNT IN ROW
      (11) EXCLUDES CERTAIN SHARES <BR>&nbsp; <BR>[ ] </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>13</B> </TD>
    <TD align=left width="92%" colSpan=3>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>&nbsp; <BR>11.37%<SUP>1</SUP> </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>14</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>TYPE OF REPORTING PERSON <BR>&nbsp;
      <BR>PN; IA </TD></TR></TABLE></DIV>
<P align=justify><SUP>_______________________________________<BR>1</SUP> The
percentages used herein are calculated based upon 52,275,901 shares of common
stock outstanding as of 6/30/2016, as disclosed in the company's Certified
Shareholder Report Form N-CSRS filed 9/1/2016. </P>
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    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No. 224916106</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="33%"><B>Page&nbsp;3 of 9 Pages</B>
</TD></TR></TABLE><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left><B>1</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>NAME OF REPORTING PERSON <BR>&nbsp;
      <BR>Boaz R. Weinstein </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>2</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP<BR>&nbsp; <BR> (a) [ ] <BR>(b) [ ] </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>3</B> </TD>
    <TD align=left width="92%" colSpan=3>SEC USE ONLY <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>4</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>SOURCE OF FUNDS <BR>&nbsp; <BR>OO
      (see Item 3) </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>5</B> </TD>
    <TD align=left width="92%" colSpan=3>CHECK BOX IF DISCLOSURE OF LEGAL
      PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) <BR>&nbsp; <BR>[ ]
    </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>6</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>&nbsp; <BR>United States </TD></TR>
  <TR vAlign=top>
    <TD align=center colSpan=2 rowSpan=4><BR><BR>NUMBER OF <BR>SHARES
      <BR>BENEFICIALLY <BR>OWNED BY <BR>EACH <BR>REPORTING <BR>PERSON WITH:
      <BR><BR></TD>
    <TD align=center width="5%"><B>7</B> <BR></TD>
    <TD align=left width="77%">SOLE VOTING POWER <BR>&nbsp; <BR>-0- </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%"><B>8</B> </TD>
    <TD align=left width="77%">SHARED VOTING POWER <BR>&nbsp; <BR>5,945,208
  </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%"><B>9</B> <BR></TD>
    <TD align=left width="77%">SOLE DISPOSITIVE POWER <BR>&nbsp; <BR>-0-
</TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%"><B>10</B> <BR></TD>
    <TD align=left width="77%">SHARED DISPOSITIVE POWER <BR>&nbsp;
      <BR>5,945,208 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>11</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH PERSON <BR>&nbsp; <BR>5,945,208 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>12</B> </TD>
    <TD align=left width="92%" colSpan=3>CHECK IF THE AGGREGATE AMOUNT IN ROW
      (11) EXCLUDES CERTAIN SHARES <BR>&nbsp; <BR>[ ] </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>13</B> </TD>
    <TD align=left width="92%" colSpan=3>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>&nbsp; <BR>11.37%<SUP>1</SUP> </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>14</B> <BR></TD>
    <TD align=left width="92%" colSpan=3>TYPE OF REPORTING PERSON <BR>&nbsp;
      <BR>IN </TD></TR></TABLE></DIV>
<P align=justify>____________________________ </P>
<P align=justify><SUP>1</SUP> The percentages used herein are calculated based
upon 52,275,901 shares of common stock outstanding as of 6/30/2016, as disclosed
in the company's Certified Shareholder Report Form N-CSRS filed 9/1/2016 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 1.</B> </TD>
    <TD align=left width="90%"><B>SECURITY AND ISSUER</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="90%">
      <P align=justify>This statement on Schedule 13D (the "<U>Schedule
      13D</U>") relates to the common shares (the "<U>Common Shares</U>"), of
      Credit Suisse Asset Management Income Fund (the "<U>Issuer</U>"). The
      Issuer's principal executive offices are located at One Madison Avenue,
      NY, NY 10010. </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>Item 2.</B> </TD>
    <TD align=left width="90%"><B>IDENTITY AND BACKGROUND</B>
</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >(a) </TD>
    <TD align=left width="90%" colSpan=2>This Schedule 13D is filed by: </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="85%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="5%" >
      <P align=justify>(i) </P></TD>
    <TD align=center width="85%">
      <P align=justify>Saba Capital Management, L.P., a Delaware limited
      partnership ("<U>Saba</U> <U>Capital</U>"); and </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="85%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="5%" >(ii) </TD>
    <TD align=left width="85%">Mr. Boaz R. Weinstein ("<U>Mr. Weinstein</U>").
    </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="85%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left></TD>
    <TD align=left width="90%" colSpan=2>
      <P align=justify>This statement is being jointly filed by Saba Capital
      Management, L.P., a Delaware limited partnership ("Saba Capital") and Mr.
      Boaz R. Weinstein (together, the "Reporting Persons&#148;) with respect to the
      ownership of the shares of Common Stock (as defined in Item 2(d)) by Saba
      Capital Master Fund Ltd. ("SCMF"), Saba II AIV, L.P ("SCMF II"), Saba
      Capital Leveraged Master Fund Ltd. ("SCLMF"), Saba Capital Series LLC
      Series 1 ("SCS"), Saba Capital CEF Opportunities 1, Ltd. ("SCEF1"), and
      Saba Capital CEF Opportunities 2, Ltd. ("SCEF2").<SUP>2 </SUP>Any
      disclosures herein with respect to persons other than the Reporting
      Persons are made on information and belief after making inquiry to the
      appropriate party. </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="90%" colSpan=2>
      <P align=justify>Information required by Instruction C of Schedule 13D
      with respect to Management is set forth herein. </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=center></TD>
    <TD align=left width="90%"  colSpan=2>
      <P align=justify>The filing of this statement should not be construed as
      an admission that any Reporting Person, Management or any Saba Entity is,
      for the purposes of Sections 13 of the Securities Exchange Act of 1934,
      the beneficial owner of the Common Shares reported herein. </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >
      <P align=justify>(b) </P></TD>
    <TD align=left width="90%" colSpan=2>
      <P align=justify>The address of the business office of each of the
      Reporting Persons and Management is 405 Lexington Avenue, 58th Floor, New
      York, New York 10174. </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >
      <P align=justify>(c) </P></TD>
    <TD align=left width="90%" colSpan=2>
      <P align=justify>The principal business of: (i) Saba Capital is to serve
      as investment manager to the Saba Entities, (ii) Mr. Weinstein, an
      individual, is investment management and serving as the Managing Member of
      Management and other affiliated entities and (iii) Management is to serve as general partner of Saba
      Capital.</P></TD></TR></TABLE>
<P align=justify><SUP>_____________________________________<BR>2</SUP> Saba
Capital is the investment manager of the Saba Entities and by virtue of such
status may be deemed to be the beneficial owner of the securities held by the
Saba Entities. Saba Capital Management GP, LLC ("<U>Management</U>") is the
general partner of Saba Capital. Management does not directly hold any Common
Shares. Boaz R. Weinstein is the Managing Member of Management and as a result
may be deemed to have voting and investment power with respect to the securities
held by the Saba Entities. </P>
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cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="10%" >(d) </TD>
    <TD>
      <P align=justify>None of the Reporting Persons or Management has, during
      the last five years, been convicted in a criminal proceeding (excluding
      traffic violations or similar misdemeanors).</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="10%" >(e) </TD>
    <TD>
      <P align=justify>None of the Reporting Persons or Management has, during
      the last five years, been a party to a civil proceeding of a judicial or
      administrative body of competent jurisdiction and, as a result of such
      proceeding, was, or is subject to, a judgment, decree or final order
      enjoining future violations of, or prohibiting or mandating activities
      subject to, Federal or State securities laws or finding any violation with
      respect to such laws.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="10%" >(f) </TD>
    <TD>
      <P align=justify>Saba Capital is organized as a limited partnership under
      the laws of the State of Delaware. Mr. Weinstein is a citizen of the
      United States. Management is a limited liability company organized under
      the laws of Delaware.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" ></TD>
    <TD>
      <P align=justify>The Reporting Persons have executed a Joint Filing
      Agreement, dated February 14, 2017, with respect to the joint filing of
      this Schedule 13D, and any amendment or amendments hereto, a copy of which
      is attached hereto as <U>Exhibit 1</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 3.</B> </TD>
    <TD align=left width="90%"><B>SOURCE AND AMOUNT OF FUNDS OR OTHER
      CONSIDERATION</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="90%">
      <P align=justify>Funds for the purchase of the Common Shares were derived
      from the subscription proceeds from investors in SCMF, SCMF II, SCLMF,
      SCS, SCEF 1 and SCEF 2 and the capital appreciation thereon and margin
      account borrowings made in the ordinary course of business. In such
      instances, the positions held in the margin accounts are pledged as
      collateral security for the repayment of debit balances in the account,
      which may exist from time to time. Since other securities are held in the
      margin accounts, it is not possible to determine the amounts, if any, of
      margin used to purchase the Common Shares reported herein. A total of
      $18,080,944 was paid to acquire the Common Shares reported herein.
  </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>Item 4.</B> </TD>
    <TD align=left width="90%">
      <P align=justify><B>PURPOSE OF TRANSACTION</B> </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="90%">
      <P align=justify>The Reporting Persons acquired the Common Shares to which
      this Schedule 13D relates in the ordinary course of business for
      investment purposes because they believe that the Common Shares are
      undervalued and represent an attractive investment opportunity. </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="90%">
      <P align=justify>The Reporting Persons may engage in discussions with
      management, the Board of Directors, other shareholders of the Issuer and
      other relevant parties, including representatives of any of the foregoing,
      concerning the Reporting Persons' investment in the Common Shares and the
      Issuer, including, without limitation, matters concerning the Issuer's
      business, operations, board appointments, governance, management, capitalization and
strategic plans and matters relating to the open or closed end nature of the
Issuer and timing of any potential liquidation of the Issuer. The Reporting
Persons may exchange information with any persons pursuant to appropriate
confidentiality or similar agreements or otherwise, work together with any
persons pursuant to joint agreements or otherwise, propose changes in the
Issuer's business, operations, board appointments, governance, management,
capitalization, strategic plans or matters relating to the open or closed end
nature of the Issuer or timing of any potential liquidation of the Issuer, or
propose or engage in one or more other actions set forth under subparagraphs
(a)-(j) of Item 4 of Schedule 13D.
</P></TD></TR></TABLE><BR>
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<P style="MARGIN-LEFT: 10%" align=justify>The Reporting Persons intend to review
their investment in the Issuer on a continuing basis. Depending on various
factors, including, without limitation, the outcome of any discussions
referenced above, the Issuer's financial position and strategic direction,
actions taken by management or the Board of Directors, price levels of the
Common Shares, other investment opportunities available to the Reporting
Persons, conditions in the securities market and general economic and industry
conditions, the Reporting Persons may in the future take such actions with
respect to their investment in the Issuer as they deem appropriate, including,
without limitation, purchasing additional Common Shares or selling some or all
of their Common Shares, engaging in short selling of or any hedging or similar
transactions with respect to the Common Shares and/or otherwise changing their
intention with respect to any and all matters referred to in Item 4 of Schedule
13D. The Reporting Persons may, at any time and from time to time, review or
reconsider their position and/or change their purpose and/or formulate plans or
proposals with respect to their investment in the Common Shares. </P>
<P style="MARGIN-LEFT: 10%" align=justify>The Reporting Persons have not entered
into any agreement with any third party to act together for the purpose of
acquiring, holding, voting or disposing of the Common Shares reported
herein.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 5.</B> </TD>
    <TD align=left width="90%"><B>INTEREST IN SECURITIES OF THE ISSUER</B>
  </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="10%" >(a) </TD>
    <TD>
      <P align=justify>See rows (11) and (13) of the cover pages to this
      Schedule 13D for the aggregate number of Common Shares and percentages of
      the Common Shares beneficially owned by each of the Reporting Persons. The
      percentages used in this Schedule 13D are calculated based upon 52,275,901
      shares of common stock outstanding as of 6/30/2016, as disclosed in the
      company's Certified Shareholder Report Form N- CSRS filed
  9/1/2016.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="10%" >(b) </TD>
    <TD>
      <P align=justify>See rows (7) through (10) of the cover pages to this
      Schedule 13D for the number of Common Shares as to which each Reporting
      Person has the sole or shared power to vote or direct the vote and sole or
      shared power to dispose or to direct the disposition.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="10%" >(c) </TD>
    <TD>
      <P align=justify>There were no transactions in the Common Shares effected
      within the past sixty days by Saba Capital.</P></TD></TR></TABLE><BR>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="10%" >(d) </TD>
    <TD>
      <P align=justify>No person other than the Reporting Persons and the Saba
      Entities is known to have the right to receive, or the power to direct the
      receipt of dividends from, or proceeds from the sale of, such Common
      Shares.</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="10%" >(e) </TD>
    <TD>
      <P align=justify>Not applicable.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 6.</B> </TD>
    <TD align=left width="90%">
      <P align=justify><B>CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR</B>
      <B>RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER</B> </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="90%">
      <P align=justify>Other than the Joint Filing Agreement attached as
      <U>Exhibit 1 </U>hereto, there are no contracts, arrangements,
      understandings or relationships (legal or otherwise) among the persons
      named in Item 2 hereof and between such persons and any person with
      respect to any securities of the Issuer, including but not limited to
      transfer or voting of any other securities, finder's fees, joint ventures,
      loan or option arrangements, puts or calls, guarantees of profits,
      divisions of profits or loss, or the giving or withholding of proxies.
    </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>Item 7.</B> </TD>
    <TD align=left width="90%">
      <P align=justify>&nbsp;<B>MATERIAL TO BE FILED AS EXHIBITS</B> </P></TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">
      <P align=justify> </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >Exhibit 1: </TD>
    <TD align=center width="90%">
      <P align=justify>Joint Filing Agreement Statement as required by Rule
      13d-1(k)(1) under the Act. </P></TD></TR></TABLE><BR>
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<P align=center><B>SIGNATURES </B></P>
<P align=justify style="text-indent: 5%">After reasonable inquiry and to
the best of his or its knowledge and belief, each of the undersigned certifies
that the information set forth in this statement is true, complete and correct.
</P>
<P align=justify>Date: February 14, 2017 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">SABA CAPITAL MANAGEMENT, L.P. </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Name: Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Title: Chief Compliance Officer </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">BOAZ R. WEINSTEIN </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Name: Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Title: Attorney-in-fact* </TD></TR></TABLE>
<P align=justify>* Pursuant to a power of attorney dated as of November 16,
2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G
filed by the Reporting Persons on December 28, 2015, accession number:
0001062993-15-006823 </P>
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<TABLE
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  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No. 224916106</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left width="33%"><B>Page&nbsp;9 of 9 Pages</B> </TD></TR></TABLE>
<P align=center><B>EXHIBIT 1 </B></P>
<P align=center><B>JOINT FILING AGREEMENT <BR>PURSUANT TO RULE 13d-1(k) </B></P>
<P align=justify style="text-indent: 5%">The undersigned acknowledge and
agree that the foregoing statement on Schedule 13D is filed on behalf of each of
the undersigned and that all subsequent amendments to this statement on Schedule
13D shall be filed on behalf of each of the undersigned without the necessity of
filing additional joint filing agreements. The undersigned acknowledge that each
shall be responsible for the timely filing of such amendments, and for the
completeness and accuracy of the information concerning him or it contained
herein and therein, but shall not be responsible for the completeness and
accuracy of the information concerning the others, except to the extent that he
or it knows or has reason to believe that such information is inaccurate. </P>
<P align=justify>DATE: February 14, 2017 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">SABA CAPITAL MANAGEMENT, L.P. </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Name: Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Title: Chief Compliance Officer </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">BOAZ R. WEINSTEIN </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">/s/
      Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Name: Michael D'Angelo </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Title: Attorney-in-fact* </TD></TR></TABLE>
<P align=justify>* Pursuant to a power of attorney dated as of November 16,
2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G
filed by the Reporting Persons on December 28, 2015, accession number:
0001062993-15-006823 </P>
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