Business Context and Reporting Period
This Form 8-K Current Report was filed by Flaherty & Crumrine Preferred & Income Securities Fund Inc on June 4, 2015. The filing addresses a personnel change within the Fund's investment management team.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel matters.
Material Changes
The primary material change reported is the departure of Robert M. Ettinger as a portfolio manager for the Fund, effective June 30, 2015, due to his impending retirement.
Outlook and Management Commentary
Management confirmed that R. Eric Chadwick, Bradford S. Stone, and Donald Crumrine will continue to serve as portfolio managers for the Fund following Mr. Ettinger's departure. No specific financial guidance, risks, or contingencies were disclosed in this filing.
Key Facts for Investors
- Robert M. Ettinger is retiring as a portfolio manager effective June 30, 2015.
- The remaining portfolio managers are R. Eric Chadwick, Bradford S. Stone, and Donald Crumrine.
- This filing contains no financial performance data or changes to the Fund's investment strategy.