Activist Saba launches board and management coup at seven London-listed investment trusts
4 days, 5 hours ago

Activist Saba launches board and management coup at seven London-listed investment trusts

Daily Mail  

An activist investor is hoping to seize control of seven underperforming London-listed investment trusts after urging shareholders on Wednesday to sack their respective boards. The trusts affected are Baillie Gifford US Growth, CQS Natural Resources Growth & Income, Edinburgh Worldwide, European Smaller Companies, Henderson Opportunities, Herald Investment Trust and Keystone Positive Change. Targeting trusts with big discounts to NAV is a key part of Saba's investment strategy, from which it hopes to build an ETF targeting London-listed investment companies. It hopes to have Weinstein appointed to the board of Baillie Gifford US Growth, while principal executive officer of Saba's investment trusts Paul Kazarian would join the board of the other six.

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