Saba Capital has warned Edinburgh Worldwide (EWI) of its plans to requisition a general meeting to remove the board of the £700m investment trust.
The activist hedge fund, which failed to get its representatives elected to the board at an EGM at the start of this year, says it is “profoundly disappointed” with the performance of the Baillie Gifford managed global smaller companies fund.
It owns 30% of the shares.
More to follow.
