Edinburgh Worldwide investment trust (EWI) has issued renewed criticism of the attempt by the Manhattan-based activist hedge fund Saba Capital to oust its board.
EWI chair Jonathan Simpson Dent argued that "Edinburgh Worldwide is an exciting and unique investment trust that offers unparalleled access to emerging companies, operating at the frontiers of science and technology". According to him, "all of this is threatened by Saba Capital". He added that the hedge fund's proposals "amount to a backdoor attempt to seize control of the trust". Baillie Gifford trusts slams Saba for wanting to make 'self-serving and destructive changes' Therefore, the board said it will "urge all of our investors to protect their investment, to protect their tru...
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