As an investor in a CEF, I would NOT support the elimination of the shareholders' meeting whether the CEF is existing or new. Allowing a board to manage in perpetuity just invites corruption in. Eliminating the shareholders' meeting would allow the board to have no guard rails. It's my money, and I should have a say in how that money is being managed. One key way an investor has in holding a board accountable is a vote to eliminate board members who are not performing to standard.