Saba accuses all seven trusts of 'misleading claims' about its requisitioned meetings

Calls for ‘shareholder-driven change’

Saba Capital has hit back at the claims made by the seven trusts it has requisitioned meetings for, calling them “misleading”.

The US-based hedge fund has accused seven trusts it has major holdings in of failing to tackle performance and persistent discounts and, as a result, has called for the removal of their boards. Saba saga 'should come as no surprise' and serves as 'a wakeup call to boards' no matter the outcome Saba said there is a need for "shareholder-driven change" at the trusts in question, which are: Baillie Gifford US Growth; CQS Natural Resources Growth & Income; Edinburgh Worldwide; European Smaller Companies; Henderson Opportunities; Herald investment and Keystone Positive Change. Several o...