CQS Natural Resources Growth & Income chair joins rally call against Saba

‘Saba’s proposals are without merit’

CQS Natural Resources Growth & Income has joined the other six trusts targeted by Saba Capital and pushed back against the US hedge funds attempts to reconstruct its board and management.

CQS was named along with Edinburgh Worldwide, Henderson Opportunities and European Smaller Companies trust, Herald, Baillie Gifford US Growth Trust and Keystone Positive Change by Saba in a letter published in December calling for a general meeting to vote on the respective trust's management, after the latter claimed each one had failed to hold its managers to account and deliver for clients. Saba resubmits Edinburgh Worldwide documents triggering shareholder vote over board The six other mandates had already put out their statements against Saba's claims in their own general notice ...