Gavin Lumsden, Investment Trust Insider, 18 December 2024: After months of mystery over its intentions, activist Saba Capital today launched campaigns for change at seven investment trusts in which it is the leading shareholder with stakes of 19-29%. The New York based hedge fund manager has requisitioned general meetings at three Baillie Gifford trusts: Baillie […]
David Thorpe, FT Adviser, 18 December 2024: US hedge fund Saba Capital is attempting to remove the boards of seven UK investment trusts, a move which could be positive for advisers’ clients, according to Iain Scouller, analyst at Stifel.. Each of those trusts has suffered performance issues in recent years and traded at wide discounts […]
by Kyle Caldwell from interactive investor,18th December 2024: US activist investor Saba Capital has called for the removal of board members at seven investment trusts in which it is the largest shareholder, owning stakes between 19% and 29%.. Saba Capital has called for general meetings to take place for each trust by early February, and […]
Christian Mayes, Portfolio Adviser, 18 December 2024: After months of curiosity around its intentions for the investment trust sector, activist investor Saba Capital has launched a campaign to replace seven investment trust boards. The US hedge fund has requisitioned the boards of Baillie Gifford US Growth Trust, CQS Natural Resources Growth & Income, Edinburgh Worldwide […]
Linus Uhlig, Investment Week, 18 December 2024: Analysts have slammed hedge fund manager Saba Capital after it launched campaigns to oust the boards of seven investment trusts of which it is a major shareholder. Activist New York-based hedge fund Saba has requisitioned general meetings of shareholders at seven UK investment trusts to reconstitute their respective […]
By Emma Wallis, News editor, Trustnet, 18 December 2024: Saba Capital Management has published a letter proposing dramatic changes to seven investment trusts in which it is the largest shareholder. Its targets include three trusts managed by Baillie Gifford (Edinburgh Worldwide, Keystone Positive Change and Baillie Gifford US Growth) and two from Janus Henderson Investors […]
by Dave Baxter, Investors Chronicle, December 18, 2024: Saba Capital wants to remove the boards of seven investment trusts and enact measures it claims will deliver better shareholder value. The activist investor, which has built stakes for several months, called for general meetings to be held at Baillie Gifford vehicles Baillie Gifford US Growth (USA), […]
Alex Ralph, Chief Business Correspondent, The Times, December 18 2024: An American activist investor has launched a campaign to remove the boards of seven UK-listed investment trusts, accusing some of delivering “disastrous” returns. Saba Capital, the New York-based hedge fund firm, issued an open letter on Wednesday calling on the boards to call a shareholder […]
by Jennifer Hill from interactive investor, 17th December 2024: It is widely known that smaller companies are cheaper than larger ones, but given geopolitical tensions and economic uncertainty, many investors will want to hedge their bets. With the help of a range of analysts and wealth managers, we take a tour of the regions to […]
Investment trust insider looks back at 2024 – James Carthew: Shrinking trusts provide multiple opportunities Share price discounts remain stubbornly wide despite a huge number of buybacks and corporation actions in 2024. Nevertheless, there have been some big winners this year. This year has seen the investment companies sector shrink as boards have made big […]
