Herald investment trust (HRI) has hit back at US-based Saba Capital, saying the activist hedge fund “still fails to provide evidence of Saba having a long-term track record similar or equal” to the trust's.
In a stock exchange notice today (14 January), HRI's board said that, having checked with publicly available data sources and press articles, the trust "has materially outperformed" the Saba Capital Master fund. Launched in August 2009, Saba Capital Master is a current shareholder in HRI as well as in six other trusts, which were targeted last month in a letter by the hedge fund calling for general meetings at all seven firms to reconstitute their respective boards of directors. Herald investment trust hits back at Saba over proposed cash exit strategy According to HRI's board res...
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