‘We can only hold back the tide for so long’: Edinburgh trust urges investors to back exit plan Investing The chair of one of Britain’s oldest investment trusts has urged its shareholders to back its proposed exit plan, saying the board had “exhausted all other options” in its bid to prevent a US activist investor from seizing control of the trust. Jonathan Simpson-Dent told investors that Edinburgh Worldwide Investment Trust (Ewit) remained under “persistent [...]
American hedge fund relaunches campaign against Scottish investment trust Investing The American hedge fund tycoon behind a years-long assault on Britain’s investment trust industry has revived his campaign against a Baillie Gifford-run fund less than a month after being resoundingly defeated by shareholders at a crunch meeting. Saba Capital founder Boaz Weinstein shared an open letter to investors in the Edinburgh Worldwide Investment Trust (Ewit), [...]
Investment trust rejects hedge fund assault ending Saba saga Investing Shareholders of a major investment trust have roundly rejected a move by hedge fund tycoon Boaz Weinstein’s Saba to force through a radical shake-up of its leadership and investment philosophy. At a crunch Requisitioned General Meeting, Edinburgh Worldwide Investment Trust (Ewit) investors representing some 93 per cent of shares – excluding those held by Saba [...]
US investor dials up attacks on investment trust before crunch vote January 7, 2026 The American hedge fund tycoon behind a campaign to shake up Britain’s investment trust sector has ramped up his attacks on a Baillie Gifford fund ahead of a pivotal shareholder vote, demanding answers over its decision to offload shares in Space X. Boaz Weinstein, the founder of Saba Capital, published an open letter to Edinburgh [...]
US hedge fund shorts British firms despite aim to ‘save’ UK market February 20, 2025 Activist investor Saba Capital has taken short positions against some key UK companies, including beloved Harry Potter publisher Bloomsbury, despite previously claiming to be the “white knight of the UK market”. The American hedge fund has taken out a 0.95 per cent short position against the £537m publisher, or a roughly £5.1m bet against it. [...]
Saba Capital falls at first hurdle in activist trust campaign January 22, 2025 Saba Capital’s first battle over the board of a UK investment trust has failed, with investors widely rejecting its attempt to unseat the board of a targeted trust. In a shareholder vote today, 65 per cent of Herald trust shareholders voted to kill the activist hedge fund’s proposals, which aimed to depose and replace the [...]
Saba Capital: Does the US hedge fund have a point on UK investment trusts? January 21, 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 pushed for shareholder votes to “elect new directors with [...]