By Matteo Anelli, Senior reporter, Trustnet, 4 February 2025: Saba Capital has hit another brick wall at the general meetings of the Henderson Opportunities and CQS Natural Resources Growth and Income trusts this afternoon. In both cases, shareholders voted against the requisition proposals advanced by Saba, following in the footprints of the Herald Investment Trust […]
Tom Aylott, Portfolio Adviser, 4 February 2025: Saba Capital was defeated in a shareholder vote for the fourth time today (4 February) as investors in Henderson Opportunities rejected the hedge fund’s proposals. Almost three-quarters (73.4%) of the trust’s shareholders participated in its general meeting this morning, with 65.4% of the votes cast going against Saba’s […]
Linus Uhlig, Investment Week, 4 February 2025: Henderson Opportunities (HOT) and CQS Natural Resources Growth & Income trusts have sided with their current, respective boards against the attempts by US activist hedge fund Saba Capital to replace them with its own nominees and upend the companies. In the fourth and fifth votes of the ‘Saba […]
By MIKE SHEEN, This is Money, 4 February 2025: Saba has suffered its fourth consecutive defeat at the hands of investment trust investors after Henderson Opportunities (HOT) shareholders rejected the hedge fund’s takeover proposals HOT is one of seven investment trusts targeted by Saba’s plans to seize control of boards and management, with the hedge […]
Questor on JPMorgan Global Growth and Income – This trust’s controversial dividend plan has paid off Goodwill should see JP Morgan Global Growth through short-term volatility Ordinarily, most investment trusts paying a dividend will seek to cover the cost from their underlying revenue, but one of the strengths of the structure is that boards have […]
Patrick Hosking, Financial Editor, The Times, 3 February 2025: A London-listed investment company used by investors to back potential US tech winners has emphatically seen off a threat by the New York activist hedge fund group Saba Capital. The £750 million Baillie Gifford US Growth Trust said shareholders had voted by 65.6 per cent to […]
By MIKE SHEEN, This is Money, 3 February 2025: Saba has been handed a second and third consecutive defeat at the hands of UK investment trust investors, after Baillie Gifford US Growth and Keystone Positive Change shareholders rejected the hedge fund’s proposals. The pair are two of seven trusts targeted by Saba’s plans to overhaul […]
By Emma Wallis, News editor, Trustnet, 3 February 2025: The boards of Baillie Gifford US Growth and Keystone Positive Change achieved decisive victories today as Saba Capital Management’s proposals to unseat them were defeated. The majority of Baillie Gifford US Growth trust’s shareholders made their voices heard, with votes cast representing 78.4% of total voting […]
Elliot Gulliver-Needham, Investment Reporter, CityAM, 4 Feb 2025: Saba Capital launched a campaign against seven UK trusts in December. Saba Capital has lost two more votes in the US hedge fund’s campaign to take over a variety of UK investment trusts, leaving its campaign looking increasingly unlikely to succeed. Two trusts run by Baillie Gifford, […]
Investment trust show #11: Fighting off activist investors and the attractions of Japan Dan Coatsworth talks to James Carthew about Saba and investment trust activism in general. https://www.ajbell.co.uk/podcasts/episode/money-markets/2025-02-03
