Published 13 days ago • loading... • Updated 13 days ago

Saba campaign is wake-up call for UK Investment Trusts

Summary by Hedgeweek

A high-profile campaign by US activist hedge fund Saba Capital to overhaul seven British investment trusts has been described as a “massive wake-up call” for the £266bn industry, which critics say has grown “complacent”, according to a report by the Financial Times. Experts believe the hedge fund’s failed attempt to force change at the trusts could now drive greater competitiveness in the 150-year-old sector. Over the past two weeks, shareholder…

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QuotedData

Saba's back again, now it wants to open-end four trusts - QuotedData

Here we go again – Saba published a press release this afternoon. [Despite its embarrassing failure to seize control of a number of trusts, Saba doesn’t seem to have got the message that shareholders in these trusts quite like what they have and are not looking for change. In the press release below, Saba claims to have held conversations with investors on the need for liquidity at NAV but we would take that with a pinch of salt – how many conve…

13 days ago

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