By Najiyya Budaly, Law360, 21 January 2025: Investment trusts on the London stock market should work at persuading retail investors that they have viable plans to increase value for shareholders if they want to defend against activist shareholders moving in to seize control, lawyers say. Analysts in the sector are watching after moves by a […]
By: Elliot Gulliver-Needham, Investment Reporter, CityAM, 21 January 2025: US hedge fund Saba Capital triggered fury and an industry-wide defensive effort when it launched an activist campaign against seven UK investment trusts last month. The Manhattan-based hedge fund, led by Boaz Weinstein, has laid siege to the trusts, accused them of failing to perform, and […]
Investment trust insider poses 10 questions to Saba – James Carthew: 10 questions Saba ignored at ‘scripted’ seminar Saba’s recent webinar was no more than a choreographed attempt to pull the wool over investors’ eyes. Here are the key questions Boaz Weinstein refused to answer Last Tuesday, Saba held a webinar attended by a raft […]
Eve Maddock-Jones, Investment Week, 17 January 2025: Almost a month ago to the day, Saba Capital published its bombshell letter which has since sent the UK investment trust space into a spiral. Back on 18 December, Saba went public with its plans to oust the boards of seven trusts, forcing a spotlight on the closed-ended […]
Eve Maddock-Jones, Investment Week, 16 January 2025: Herald investment trust (HRI) has moved up to a premium after years of running on a discount following rapid buying activity by its biggest shareholder Saba Capital, which is seeking to take over management of the trust next week.. The activist investor launched a takeover campaign against HRI […]
James Crux, Shares Magazine, 16 January 2025: The normally sleepy world of investment trusts received a wake-up call just before Christmas with the publication (18 December 2024) of a shareholder letter by activist investor Saba Capital Management calling for change at no fewer than seven well-known funds.. ‘Initially Saba is proposing to replace the current […]
Questor on M&G Credit Income – This trust offers a yield more than three times greater than inflation It might be young and small, but a diverse portfolio with balanced risk keeps this trust in demand Government borrowing costs are rising both here and in the US, but for slightly different reasons. In the US, the […]
Investment trust insider on rising bond yields – James Carthew: Higher bond yields deal blow to small-cap recovery Sliding sterling and elevated gilt yields have made for a painful month for small-cap and renewables trusts, and investors now need to be patient. I am going to press pause on the Saba saga this week (although […]
Forces like regulation, passive investing and AI have all conspired to squeeze equity research in ways few could have imagined. Countless “sell-side” analysts have had to reinvent themselves as a result. By Sujata Rao, Denitsa Tsekova, and Isolde MacDonogh 8 January 2025 at 22:00 GMT Jerry Diao had all the makings of a successful Wall Street analyst. A degree in […]
Ian King, The Times, 13 January 2025: By tradition, young financial journalists learning the ropes have done so by covering the smaller companies sector. For the past 30 years they have learnt rapidly that the sector’s doyenne is Katie Potts, fund manager at the £1.2 billion Herald Investment Trust, now the target of a fierce […]
