Baillie Gifford US Growth trust (USA) has backed its recent performance in the face of an upcoming general vote that would see its board ousted and replaced by representatives from the New York activist hedge fund Saba Capital.
In the trust's results for the six months to 30 November 2024, published today (21 January), USA chair Tom Burnet said the board is pleased with the "highly successful period for the company's growth strategy", which saw it deliver net asset value returns of 29.4% in the period. During the six months, the trust's share price also returned 40.9%, compared with a total return of 15.3% for the S&P 500. Burnet reiterated the board's desire to resist the changes proposed by Saba, the trust's largest single shareholder. Janus Henderson ESCT slams Saba for continued 'misleading stateme...
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