SCHEDULE 13D/A
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
2/11/16
1. NAME OF REPORTING PERSON
Bulldog Investors, LLC
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
1,045,631
8. SHARED VOTING POWER
256,634
9. SOLE DISPOSITIVE POWER
1,045,631
_______________________________________________________
10. SHARED DISPOSITIVE POWER
256,634
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,302,265 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[ ]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
15.77%
14. TYPE OF REPORTING PERSON
IA
1. NAME OF REPORTING PERSON
Bulldog Investors Group of Funds
2. CHECK THE BOX IF MEMBER OF A GROUP a[X]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
1,045,631
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
1,045,631
_______________________________________________________
10. SHARED DISPOSITIVE POWER
0
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,045,631 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[ ]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
12.66%
14. TYPE OF REPORTING PERSON
IC
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
1,045,631
8. SHARED VOTING POWER
256,634
9. SOLE DISPOSITIVE POWER
1,045,631
_______________________________________________________
10. SHARED DISPOSITIVE POWER
256,634
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,302,265 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[ ]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
15.77%
14. TYPE OF REPORTING PERSON
IN
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
1,045,631
8. SHARED VOTING POWER
256,634
9. SOLE DISPOSITIVE POWER
1,045,631
_______________________________________________________
10. SHARED DISPOSITIVE POWER
256,634
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,302,265 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[ ]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
15.77%
14. TYPE OF REPORTING PERSON
IN
1. NAME OF REPORTING PERSON
Steven Samuels
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
1,045,631
8. SHARED VOTING POWER
256,634
9. SOLE DISPOSITIVE POWER
1,045,631
_______________________________________________________
10. SHARED DISPOSITIVE POWER
256,634
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,302,265 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[ ]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
15.77%
14. TYPE OF REPORTING PERSON
IN
Item 1. SECURITY AND ISSUER
This statement constitutes Amendment #8 to the schedule 13d
filed September 25, 2015. Except as specifically set forth
herein, the Schedule 13d remains unmodified.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As per the N-CSR filed on January 29, 2016, there were 8,259,517 shares
of common stock outstanding as of November 30, 2015. The percentages set forth
herein were derived using such number. Phillip Goldstein, Andrew Dakos and
Steven Samuels own Bulldog Investors, LLC, a registered investment advisor.
As of February 11, 2016, Bulldog Investors, LLC is deemed to be the beneficial
owner of 1,302,265 shares of FAV (representing 15.77% of FAV's outstanding
shares) solely by virtue of Bulldog Investors LLC's power to direct the vote of,
and dispose of, these shares. These 1,302,265 shares of FAV include 1,045,631
shares (representing 12.66% of FAV's outstanding shares) that are owned by the
following entities over which Messrs. Goldstein, Dakos and Samuels exercise
control: Bulldog Investors General Partnership, Opportunity Partners LP,
Calapasas West Partners LP, Full Value Special Situations Fund, LP, Full Value
Offshore Fund, Ltd., Full Value Partners, LP, Opportunity Income Plus, LP,
and MCM Opportunity Partners, LP (collectively,"Bulldog Investors Group of
Funds").
Bulldog Investors Group of Funds may be deemed to constitute a group. All other
shares included in the aforementioned 1,302,265 shares of FAV beneficially owned
by Bulldog Investors, LLC (solely by virtue of its power to sell or direct the
vote of these shares) are also beneficially owned by clients of Bulldog
Investors, LLC who are not members of any group. The total number of these
"non-group" shares is 256,634 shares (representing 3.11% of FAV's outstanding
shares).
(b)Bulldog Investors,LLC has sole power to dispose of and vote 1,045,631 shares.
Bulldog Investors, LLC has shared power to dispose of and vote 256,634 shares.
Certain of Bulldog Investors, LLC's clients (none of whom beneficially own more
than 5% of FAV's shares) share this power with Bulldog Investors, LLC. Messrs.
Goldstein, Dakos and Samuels are control persons of Bulldog Investors, LLC.
c) Since the last filing on 2/4/16 the following shares of FAV were purchased:
Date: Shares: Price:
02/04/16 6,943 7.7167
02/05/16 1,525 7.6496
02/08/16 21,400 7.4439
02/08/16 1,000 7.4400
02/09/16 17,902 7.4103
02/10/16 5,450 7.4588
02/11/16 48,759 7.2613
d) Clients of Bulldog Investors, LLC are entitled to receive any dividends or
sales proceeds.
e) N/A
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 2/12/2015
By: /S/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
By: /S/ Steven Samuels
Name: Steven Samuels
Bulldog Investors, LLC
By: /s/ Andrew Dakos
Andrew Dakos, Member
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.