BEXIL Investment Trust is seeking Shareholder approval to make its investment objective non-fundamental and restore non-diversified status, with each proposal requiring the applicable majority threshold, including 67% in one quorum case. The changes could reduce shareholder control and permit greater issuer concentration, increasing potential loss and share-price volatility.

Key Highlights

  • The Fund’s diversified investment limits require at least 75% of Assets to meet specified issuer-concentration tests.
  • No more than 10% of an issuer’s outstanding voting securities may be held under the applicable diversified-fund rules.
  • Shareholders approved the move from diversified to non-diversified status in 2017, but the Fund currently qualifies as diversified.

BEXIL Investment Trust (OTC: BXSY) is asking shareholders to approve two changes to the Fund’s policies at a special meeting on October 8, 2026. Each proposal requires approval by a majority of outstanding voting securities, with the threshold defined in one circumstance as 67% of shares represented at the meeting. The vote will be conducted through a live webcast.

Investment Objective and Classification on Ballot

Bexil Advisers LLC has told the Board that approval would not currently lead to a material change in investment strategies or a material increase in risk.

The second proposal seeks re-approval of the Fund’s classification as non-diversified. Shareholders approved that change in 2017, but the Fund’s classification reverted to diversified because it did not operate as non-diversified within the required period. The Board, including all independent trustees, unanimously recommends voting in favor of both proposals.

Concentration Rules and Shareholder Vote

The remaining 25% of assets is not subject to those limits on a single issuer.

Source(s)

  • https://www.sec.gov/Archives/edgar/data/1059213/000162887326000083/def14a.htm