As we write, the first five investment trusts targeted by Saba have seen the US activist hedge fund proposals overwhelmingly voted down.As a brief reminder Saba was proposing to replace the current independent boards with two new directors and had stated an intention to follow this up with a replacement of the investment manager and a new investment mandate. After Herald Investment Trust (HRI)...

First of seven vital votes on Saba proposalsRetail investor engagement key to outcomeInvestors should 'use votes wisely' says analystThis is potentially a historic day (22 January) for the UK investment trust sector, with Herald Investment Trust's (HRI) shareholders about to kick-start a string of crucial votes to either approve or reject a radical agenda pursued by US raider Saba Capital...

The normally sleepy world of investment trusts received a wake-up call just before Christmas with the publication (18 December 2024) of a shareholder letter by activist investor Saba Capital Management calling for change at no fewer than seven well-known funds.Set up by hedge fund manager Boaz Weinstein, Saba has a history of successfully instigating change, and while critics argue its...

Funds play a really important role in most investors' portfolios. Many of us may not have the time or the inclination to research our own investment ideas and would rather entrust a professional to pick stocks (and other investments for us).The strength of broad market indices, particularly global and US ones, has made it difficult for actively managed funds to outperform over the last decade...

Saba's investment totals £1.5 billionSix of the seven trusts underperformedCompany proposes sacking directorsThe normally-sleepy world of investment trusts received a wake-up call this morning with the publication of a shareholder letter by activist investor Saba Capital Management calling for change at no fewer than seven well-known funds.The firm, which has a history of successfully...

Edinburgh Worldwide Investment Trust (EWI) surprised the market this week when it announced it had developed 'a comprehensive action plan to improve execution' and would return up to £130 million of capital to shareholders next year.'Our vision, to identify and manage a carefully selected portfolio of transformative businesses, has the potential to deliver outsized returns for shareholders,'...