Linus Uhlig, Investment Week, 23 January 2025: Manhattan-based activist hedge fund Saba Capital said it “remains committed to putting shareholders’ interests first” and “ultimately rehabilitating” a “broken” UK investment trust sector, despite two thirds of Herald investment trust (HRI) shareholders’ votes cast against all eight of its resolutions. At Wednesday’s (22 January) requisitioned general meeting […]
by Val Cipriani, Investors’ Chronicle, January 23, 2025: A number of investment trusts are set to offer exit options in 2025, giving investors the opportunity to cash in their investments at or near net asset value (NAV). Investors will have to weigh up whether to stay invested in the trusts for the long term, take […]
Questor on Edinburgh Worldwide – Ignore recent performance blips – this trust will keep building the future If a certain US vulture investor is defeated, there is long-term gain to be had A US vulture investor has requisitioned a meeting to replace the board of Edinburgh Worldwide and replace it with two directors, one of […]
Linus Uhlig, Investment Week, 22 January 2025: Shareholders of Herald investment trust (HRI) have voted heavily against Saba Capital’s eight proposed resolutions at the first of seven requisitioned general meetings to vote on the changes put forward by the US activist hedge fund. Over two thirds (65.1)% of the total votes were cast against the […]
By: Elliot Gulliver-Needham, Investment Reporter, CityAM, 22 January 2025: A host of Blackrock-run investment trusts have made a peace deal with US hedge fund Saba Capital, amid its activist campaign to take over the boards of several UK trusts. In a series of stock exchange announcements, the Blackrock trusts said that they had made an […]
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 […]
