DEFA14A 1 a10-14397_1defa14a.htm DEFA14A

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 14A

 

Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No.     )

 

Filed by the Registrant  o

 

Filed by a Party other than the Registrant  x

 

Check the appropriate box:

o

Preliminary Proxy Statement

o

Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

o

Definitive Proxy Statement

x

Definitive Additional Materials

o

Soliciting Material Pursuant to §240.14a-12

 

Rivus Bond Fund

(Name of Registrant as Specified In Its Charter)

 

The Hartford Income Shares Fund, Inc.

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

 

Payment of Filing Fee (Check the appropriate box):

x

No fee required.

o

Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

(1)

Title of each class of securities to which transaction applies:

 

 

 

 

(2)

Aggregate number of securities to which transaction applies:

 

 

 

 

(3)

Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

 

 

 

(4)

Proposed maximum aggregate value of transaction:

 

 

 

 

(5)

Total fee paid:

 

 

 

o

Fee paid previously with preliminary materials.

o

Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

(1)

Amount Previously Paid:

 

 

 

 

(2)

Form, Schedule or Registration Statement No.:

 

 

 

 

(3)

Filing Party:

 

 

 

 

(4)

Date Filed:

 

 

 

 



 

 

July 21, 2010

 

THE HARTFORD INCOME SHARES FUND, INC.

PLEASE VOTE NOW

 

As solicitation continues related to the proposal for the acquisition of the assets and the liabilities of The Hartford Income Shares Fund, Inc. by Rivus Bond Fund, a diversified, closed-end management investment company advised by Cutwater Asset Management Corp., solely in exchange for shares of the Rivus Bond Fund, this letter is being provided for additional information.

 

This proposal is of utmost importance. If you have not already done so, we are asking that you take a few moments to review the information contained within this letter and in the Combined Proxy Statement/Prospectus previously provided to you and cast your vote now.

 

The Board of Directors of The Hartford Income Shares Fund, Inc. recommends that you vote FOR the proposal described in this Notice and in the Proxy Materials.

 

Unless The Hartford Income Shares Fund, Inc. receives the favorable vote of two thirds of its total outstanding voting shares, the proposed reorganization will not be approved.  For purposes of determining this vote, an abstention has the same effect as a vote against the proposal.

 

Please call 1-866-904-8748 to cast your vote now.

 

VOTING NOW WILL SAVE ADDITIONAL PROXY COSTS AND ELIMINATE PHONE CALLS TO YOU.

 

The Reorganization is expected to benefit The Hartford Income Shares Fund, Inc.’s shareholders by: (1) providing greater opportunities to realize economies of scale by combining The Hartford Income Shares Fund, Inc.’s assets with the assets of the Rivus Bond Fund, resulting in a larger fund, which is expected to result in lower total operating expenses for the shareholders of the combined fund; (2) offering shareholders of The Hartford Income Shares Fund, Inc. an investment in a fund that provides similar investment objectives and strategies; and (3) offering shareholders of The Hartford Income Shares Fund, Inc, an investment in a fund that is advised by another highly qualified asset manager with extensive experience in managing fixed income investment strategies. Please see below for updated performance and related information for each Fund.

 

Total Return Percentage Change in Net Asset Value per Share with All Distributions Reinvested(1)

 

 

 

Quarter
Ended

 

6 Months
Ended

 

1 Year
Ended

 

3 Years
Ended

 

5 Years
Ended

 

10 Years
Ended

 

 

 

6/30/10

 

6/30/10

 

6/30/10

 

6/30/10

 

6/30/10

 

6/30/10

 

Rivus Bond(2)

 

2.87

%

7.55

%

17.45

%

6.67

%

4.50

%

6.20

%

Adjusted Rivus Bond(3)

 

2.87

%

7.55

%

23.41

%

8.61

%

5.53

%

7.05

%

Hartford Income Shares(4)

 

1.65

%

4.02

%

18.7

%

-0.35

%

1.99

%

5.1

%

Adjusted Rivus Bond(3) v. Hartford Income Shares

 

1.22

%

3.53

%

4.71

%

8.96

%

3.54

%

1.95

%

 


(1)          This is historical information and should not be construed as indicative of any likely future performance

(2)          Source — BNY Mellon Asset Servicing, the Fund’s administrator, for all periods except 5-year and 10-year returns, which are from Lipper Inc.

(3)          The Fund’s performance for the 1-year, 3-year, 5-year and 10-year historical periods shown was negatively impacted by the 4.79% dilution of net asset value resulting from the rights offering during the September 2009 quarter. In addition to the

 



 

impact from the September 2009 rights offering, the 10-year performance was also negatively impacted by the 4.5% dilution of net asset value resulting from the rights offering during the December 2003 quarter.  Adjusted Rivus Bond returns for such periods are estimated.

(4)          Source — Lipper Inc.

 

Comparison of Discounts or Premiums of Market Price to Net Asset Value

(as a Percentage of Net Asset Value)

 

 

 

6/30/10

 

6/30/09

 

6/30/08

 

6/30/07

 

6/30/06

 

6/30/05

 

6/30/04

 

6/30/03

 

6/30/02

 

6/30/01

 

Rivus Bond(1)

 

-9.5

%

-9.5

%

-9.9

%

-8.8

%

-12.2

%

-10.0

%

- 12.8

%

- 2.6

%

- 4.2

%

-5.3

%

Hartford Income Shares(1)

 

- 6.1

%

- 6.2

%

- 7.8

%

- 1.4

%

- 3.3

%

- 5.6

%

- 8.5

%

- 5.8

%

- 0.6

%

0.9

%

 


(1)  Source — Lipper Inc.

 

It is important that you call the proxy soliciting agent at 1-866-904-8748 to speak with one of the representatives to assist you with the voting process. Representatives are available to take your vote Monday through Friday between 9:00 a.m. and 11:00 p.m. and on Saturday and Sunday from 12:00 p.m. to 6:00 p.m., EDT.

 

Remember, your vote counts.  Please vote today.

 

Thank you for your prompt attention to this matter.

 



 

 

July 21, 2010

 

THE HARTFORD INCOME SHARES FUND, INC.

PLEASE VOTE NOW

 

As solicitation continues related to the proposal for the acquisition of the assets and the liabilities of The Hartford Income Shares Fund, Inc. by Rivus Bond Fund, a diversified, closed-end management investment company advised by Cutwater Asset Management Corp., solely in exchange for shares of the Rivus Bond Fund, this letter is being provided for additional information.

 

This proposal is of utmost importance. If you have not already done so, we are asking that you take a few moments to review the information contained within this letter and in the Combined Proxy Statement/Prospectus previously provided to you and cast your vote now.

 

The Board of Directors of The Hartford Income Shares Fund, Inc. recommends that you vote FOR the proposal described in this Notice and in the Proxy Materials.

 

Unless The Hartford Income Shares Fund, Inc. receives the favorable vote of two thirds of its total outstanding voting shares, the proposed reorganization will not be approved.  For purposes of determining this vote, an abstention has the same effect as a vote against the proposal.

 

Please call 1-866-408-8079 to cast your vote now.

 

VOTING NOW WILL SAVE ADDITIONAL PROXY COSTS AND ELIMINATE PHONE CALLS TO YOU.

 

The Reorganization is expected to benefit The Hartford Income Shares Fund, Inc.’s shareholders by: (1) providing greater opportunities to realize economies of scale by combining The Hartford Income Shares Fund, Inc.’s assets with the assets of the Rivus Bond Fund, resulting in a larger fund, which is expected to result in lower total operating expenses for the shareholders of the combined fund; (2) offering shareholders of The Hartford Income Shares Fund, Inc. an investment in a fund that provides similar investment objectives and strategies; and (3) offering shareholders of The Hartford Income Shares Fund, Inc, an investment in a fund that is advised by another highly qualified asset manager with extensive experience in managing fixed income investment strategies. Please see below for updated performance and related information for each Fund.

 

Total Return Percentage Change in Net Asset Value per Share with All Distributions Reinvested(1)

 

 

 

Quarter
Ended

 

6 Months
Ended

 

1 Year
Ended

 

3 Years
Ended

 

5 Years
Ended

 

10 Years
Ended

 

 

 

6/30/10

 

6/30/10

 

6/30/10

 

6/30/10

 

6/30/10

 

6/30/10

 

Rivus Bond(2)

 

2.87

%

7.55

%

17.45

%

6.67

%

4.50

%

6.20

%

Adjusted Rivus Bond(3)

 

2.87

%

7.55

%

23.41

%

8.61

%

5.53

%

7.05

%

Hartford Income Shares(4)

 

1.65

%

4.02

%

18.7

%

-0.35

%

1.99

%

5.1

%

Adjusted Rivus Bond(3) v. Hartford Income Shares

 

1.22

%

3.53

%

4.71

%

8.96

%

3.54

%

1.95

%

 


(1)  This is historical information and should not be construed as indicative of any likely future performance

(2)  Source — BNY Mellon Asset Servicing, the Fund’s administrator, for all periods except 5-year and 10-year returns, which are from Lipper Inc.

(3)  The Fund’s performance for the 1-year, 3-year, 5-year and 10-year historical periods shown was negatively impacted by the 4.79% dilution of net asset value resulting from the rights offering during the September 2009 quarter. In addition to the

 



 

impact from the September 2009 rights offering, the 10-year performance was also negatively impacted by the 4.5% dilution of net asset value resulting from the rights offering during the December 2003 quarter.  Adjusted Rivus Bond returns for such periods are estimated.

(4)  Source — Lipper Inc.

 

Comparison of Discounts or Premiums of Market Price to Net Asset Value

(as a Percentage of Net Asset Value)

 

 

 

6/30/10

 

6/30/09

 

6/30/08

 

6/30/07

 

6/30/06

 

6/30/05

 

6/30/04

 

6/30/03

 

6/30/02

 

6/30/01

 

Rivus Bond(1)

 

-9.5

%

-9.5

%

-9.9

%

-8.8

%

-12.2

%

-10.0

%

- 12.8

%

- 2.6

%

- 4.2

%

- 5.3

%

Hartford Income Shares(1)

 

- 6.1

%

- 6.2

%

- 7.8

%

- 1.4

%

- 3.3

%

- 5.6

%

- 8.5

%

- 5.8

%

- 0.6

%

0.9

%

 


(1)  Source — Lipper Inc.

 

It is important that you call the proxy soliciting agent at 1-866-408-8079 to speak with one of the representatives to assist you with the voting process. Representatives are available to take your vote Monday through Friday between 9:00 a.m. and 11:00 p.m. and on Saturday and Sunday from 12:00 p.m. to 6:00 p.m., EDT.

 

Remember, your vote counts.  Please vote today.

 

Thank you for your prompt attention to this matter.