The board of Edinburgh Worldwide investment trust (EWI) has set a date for its requisitioned general meeting to vote on the proposed changes from Manhattan activist hedge fund Saba Capital, becoming the final trust to declare its meeting date.
In a stock exchange filing today (20 January), EWI chair Jonathan Simpson-Dent urged shareholders to vote against "Saba's overt land grab for its own end game" at the general meeting on 14 February at Baillie Gifford's offices in Edinburgh. He added that Saba's proposals threaten the "extremely democratic" nature of UK investment trusts and issued a plea to shareholders to protect their investment: "You have chosen EWI for its unique and early access to hidden gems, ground-breaking businesses which in many cases are not available on the public markets. Let us not let Saba take that away....
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
