by Dave Baxter, Investors Chronicle, February 14, 2025: Having bought assets that look much harder to sell, or even to accurately value, than listed equities, alternative investment trusts appear relatively safe from a Saba-style activist campaign. But stubbornly wide share price discounts to net asset value (NAV) mean they could still disappear via other routes. […]
Cristian Angeloni, Investment Week, 14 February 2025: US activist investor Saba Capital is nowhere near done with the world of investment trusts.. In the latest turn of events in the ‘Saba saga’, the US hedge fund revealed on Monday (10 February) it would requisition general meetings at four investment trusts – two of the original […]
by Val Cipriani, Investors’ Chronicle, February 13, 2025: More investment trusts battling with discounts have changed their fee structure in favour of investors. Last week, Gresham House Energy Storage (GRID), trading at a 62.2 per cent discount to net asset value (NAV) as of 7 February, said it would start calculating its management fees half […]
By CALUM MUIRHEAD, The Daily Mail, 12 February 2025: The latest assault on UK investment trusts by Wall Street raider Saba Capital could risk a scandal similar to the collapse of Neil Woodford’s fund management empire, a former pensions minister has warned. Baroness Ros Altmann said plans by Saba’s Boaz Weinstein to change the structure […]
Cristian Angeloni, Investment Week, 11 February 2025: Saba Capital’s revelation that it would target four investment trusts in a bid to transition them into open-ended funds has been met with perplexity by the sector. On Monday (10 February), the US hedge fund revealed intentions to go ahead with a ‘Plan B’ of its investment trust […]
By CALUM MUIRHEAD, This is Money, 10 February 2025: Wall Street raider Boaz Weinstein has launched another assault on four UK investment trusts after failing to take over six others. Weinstein’s firm Saba Capital announced yesterday that it will call meetings at the trusts to vote on whether to change their structure. The trusts in […]
Investment trust insider on the end game for Saba – James Carthew: Saba’s wrong, discounts aren’t all bad Saba Capital’s defeat at six of the seven investment trust votes it requisitioned doesn’t mean the activist will give up, but it needs to work with boards rather than against them We are nearing the end game […]
Christian Mayes, Portfolio Adviser, 7 February 2025: JP Morgan Global Growth & Income (JGGI) is set to take on the assets of the £329m Henderson International Income Trust (HINT), after the two trusts’ boards agreed heads of terms on a possible merger. If shareholders back the combination, it will create an enlarged JGGI with around […]
Elliot Gulliver-Needham, Investment Reporter, CityAM, 6 February 2025: BBGI Global Infrastructure has been offered a £1bn takeover from a Canadian pension giant, with the FTSE 250 trust’s board backing the deal. In a stock exchange notice, BBGI said $250bn asset manager British Columbia Investment Management had offered 147.5p a share for the entire trust, 21 […]
Michelle McGagh, Citywire Investment Trust Insider, 6 Feb 2025: BBGI Global Infrastructure (BBGI) shares have soared nearly 20% after receiving a more than £1bn takeover bid from British Columbia Investment Management (BCI). The £871m infrastructure fund – whose assets include toll bridges, roads and facilities at schools, hospitals and prisons in G7 countries – saw […]
