James Carthew comments on Saba and the IEM exit tender in Michael Nelson’s article:
“Saba, through its intransigence and determination to ride roughshod over the wishes of other shareholders, has brought about the end of a unique trust..In my view, IEM shareholders should vote in favour of the tender and tender all their shares. The likely alternative is Saba seizing control, appointing itself manager (probably on a higher fee if the charges on its ETF are anything to go by), and changing the mandate,”..
Read the article here