Investec denounces Saba plans and 'shocking' turn on Keystone windup

Others calling for Treasury intervention

Investec analysts have joined the rally cry against Saba Capital and urged shareholders to “man the barricades against an egregious and opportunistic attack”.

In a note published on Friday (10 January), analysts Alan Brierley and Ben Newell accused Saba of "'greenmail', pure and simple". Back on 18 December, the US hedge fund published a letter calling out CQS Natural Resources Growth & Income, Edinburgh Worldwide, Henderson Opportunities and European Smaller Companies trust, Herald Investment Trust (HRI), Baillie Gifford US Growth Trust and Keystone Positive Change and requisitioning general meetings of shareholders at all seven firms to reconstitute their respective boards of directors. The US hedge fund group, led by Boaz Weinstein, has ...