SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Com-
mission Only (as permitted by
Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Revised Materials
[X] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Section 140.12a-12 14a-12
VAN KAMPEN SENIOR LOAN FUND
(Name of Registrant as Specified in its Charter)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed per Exchange Act Rules 14a-6(i)(1) and 0-11.
[ ] Fee paid previously with preliminary materials.
SHAREHOLDERS TO VOTE ON MONTHLY REPURCHASE POLICY, CHANGES TO BORROWING POLICY
AND THE ELECTION OF NEW TRUSTEES FOR VAN KAMPEN SENIOR LOAN FUND
At Van Kampen Investments, we believe a commitment to excellence is essential
for consistent, long-term success. Rigorous evaluation of our product line--with
an eye toward the overall competitive landscape--is, therefore, a vital part of
our management process.
Toward this end, the Board of Trustees of the Van Kampen Senior Loan Fund (the
"Fund") recently approved several changes to the Fund. These changes are
described in a proxy statement being sent to the shareholders of the Fund. As
described in the proxy statement, shareholders are being asked to vote to
increase the frequency of the repurchase offers from quarterly to monthly, to
approve changes to the Fund's borrowing policy in order to provide for the
ability to use financial leverage for investment purposes and to nominate five
new trustees to the Board of Trustees.
Here is some information on these changes:
CHANGE THE QUARTERLY REPURCHASE OFFERS TO MONTHLY REPURCHASE OFFERS
Currently, the Fund makes quarterly offers to repurchase its shares. The
Board of Trustees has approved changing the Fund's current quarterly
repurchase policy to one where the Fund would make monthly offers to
repurchase its shares and has filed an exemptive application with the
Securities and Exchange Commission (the "SEC") to permit such a policy
change.
The Board of Trustees and the Fund's investment adviser believe that
monthly repurchase offers may provide shareholders with increased
liquidity, potentially better management of investments and better planning
of transactions. Rather than planning for liquidity months in advance,
shareholders would be able to liquidate their shares on a monthly basis.
If the Fund obtains exemptive relief from the SEC, and if shareholders
approve the changes, the Fund would provide notification to shareholders of
an upcoming monthly repurchase offer at least seven calendar days in
advance of the repurchase request deadline. The Fund anticipates that each
repurchase offer will be up to 5% of shares outstanding on the repurchase
request deadline. Shareholders are referred to the proxy materials for a
complete description of this proposal as well as the potential benefits and
costs associated with monthly repurchase offers.
FINANCIAL LEVERAGE
The Board approved a measure that will allow the Fund to utilize financial
leverage to the maximum extent permitted under applicable law and to use
such leverage to purchase additional portfolio securities. The Fund
currently employs borrowings only to provide the Fund with additional
liquidity to meet its obligations to
repurchase its shares pursuant to its repurchase offers (and does not
purchase additional portfolio securities at any time that borrowings exceed
5% of the Fund's total assets). The Board of Trustees and the Fund's
investment adviser believe that the use of financial leverage for
investment purposes may provide the Fund with several potential benefits
including enhanced income and distributions to shareholders, increased
investment flexibility, additional investment capital and a more
competitive fund structure similar to other closed-end funds in the
marketplace. Generally speaking, if the Fund can invest the proceeds from
financial leverage (i.e., money from borrowings or issuing preferred
shares) in portfolio securities that have higher rates of return than the
costs of such financial leverage and other expenses of the Fund, then the
holders of common shares would have a net benefit. Shareholders are
referred to the proxy materials for a complete description of this proposal
as well as other potential benefits and the risks associated with leverage.
ELECT 5 NEW TRUSTEES
The business and affairs of the Fund are managed under the direction of the
Fund's Board of Trustees. The Board is proposing to combine the Trustees of
the Fund with the Trustees/Directors of boards of other Van Kampen funds.
The incumbent Trustees believe that the addition of five new Trustees will
create efficiencies and improve the effectiveness of the oversight of the
Fund and other Van Kampen products.
Shareholders will receive the proxy materials related to all of these proposals
in May and are asked to vote at a shareholder meeting scheduled for June, 23
2006.
TO VIEW A PROSPECTUS AND SUPPLEMENT, VISIT OUR WEB SITE AT WWW.VANKAMPEN.COM.
PLEASE CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE
FUND CAREFULLY BEFORE INVESTING. THE PROSPECTUS CONTAINS THIS AND OTHER
INFORMATION ABOUT THE FUND. TO OBTAIN A PROSPECTUS, CONTACT YOUR FINANCIAL
ADVISOR, OR DOWNLOAD ONE AT VANKAMPEN.COM. PLEASE READ THE PROSPECTUS CAREFULLY
BEFORE INVESTING.
Van Kampen Funds Inc.
1 Parkview Plaza, P.O. Box 5555
Oakbrook Terrace, IL 60181-5555
www.vankampen.com
Copyright(C)2006 Van Kampen Funds Inc.
All rights reserved. Member NASD/SIPC
CODE
NOT FDIC INSURED OFFER NO BANK GUARANTEE MAY LOSE VALUE
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NOT A DEPOSIT
THE FA VERSION WILL CONTINUE WITH THIS ....
WE ENCOURAGE YOU TO CONTACT YOUR VAN KAMPEN SALES TEAM WITH ANY QUESTIONS:
- - VAN KAMPEN SALES TEAM:
National Broker/Dealer Division at (800) 826-5267
Bank Division at (800) 421-0807
Financial Advisors Division at (800) 421-7571
Insurance Division at (800) 778-3237
- - CLIENT RELATIONS OR ACCOUNT SERVICING AT (800) 421-5666
- - MAIN OFFICE OPERATIONS AT (800) 421-3863
TO VIEW A PROSPECTUS AND SUPPLEMENT, VISIT THE VANKAMPEN.COM.
FOR FINANCIAL PROFESSIONAL USE ONLY AND MAY NOT BE USED WITH THE GENERAL PUBLIC.
PLEASE ASK YOUR CLIENTS TO CONSIDER THE INVESTMENT OBJECTIVE, RISKS, CHARGES AND
EXPENSES OF THE FUND CAREFULLY BEFORE INVESTING. THE PROSPECTUS CONTAINS THIS
AND OTHER INFORMATION ABOUT THE FUND AND CAN BE OBTAINED BY CONTACTING YOU THE
FINANCIAL PROFESSIONAL, OR BY DOWNLOADING ONE AT VANKAMPEN.COM. ENCOURAGE THEM
TO READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
Van Kampen Funds Inc.
1 Parkview Plaza, P.O. Box 5555
Oakbrook Terrace, IL 60181-5555
www.vankampen.com
Copyright(C)2006 Van Kampen Funds Inc.
All rights reserved. Member NASD/SIPC
CODE
NOT FDIC INSURED OFFER NO BANK GUARANTEE MAY LOSE VALUE
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NOT A DEPOSIT