US hedge fund Saba Capital launched an attack on seven UK investment trusts in December – seeking to seize control, remove their boards and change how they invest.
The hedge fund, led by founder Boaz Weinstein, had built up big stakes in the seven trusts, Baillie Gifford US Growth, Keystone Positive Change, Edinburgh Worldwide, Herald, European Smaller Companies, CQS Natural Resources and Henderson Opportunities.
It forced general meetings and votes on its proposals. All those who invest in the investment trusts have the right to have their say, whether they invest directly or through an investing platform.
Investors at three of the trusts, Herald, Keystone Positive Change and Baillie Gifford US Growth have firmly rejected Saba’s bid in votes so far.
Follow all the latest stories, analysis and opinion on the Saba attack on UK investment trusts here…
Wall Street raider Boaz Weinstein suffers another stinging defeat at the hands of shareholders
Saba takeover rejected by Baillie Gifford US Growth and Keystone Positive Change investors
Strike back at cynical Saba: Investors must vote to send carpetbagger packing, says RUTH SUNDERLAND
EU rules left UK investment trusts vulnerable to assault from US corporate raider Saba Capital
As US corporate raider targets £269bn sector… How YOU can cash in on the investment trust revolution
Investment trusts step up attacks on Saba claiming fees could skyrocket under the US hedge fund
Don’t let ruthless US fund manager Saba Capital Management destroy your trust, says JEFF PRESTRIDGE
Investors must kill off this brutal assault on trusts by US activist, says ALEX BRUMMER
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