Two hedge funds run respectively by a former Goldman Sachs partner and a prominent Boston economist have positioned themselves against the Manhattan-headquartered activist investor Saba Capital, which has attempted to oust the boards of seven UK investment trusts.
According to filings with the Financial Conduct Authority, a hedge fund named Brookdale International Partners has built up short positions against Herald investment trust (HRI), which recently defeated all eight of Saba's resolutions in a general meeting last week (22 January), and Edinburgh Worldwide investment trust (EWI), another of the seven Saba targets. Joining Brookdale's bet against Herald is Eisler Capital, which took a 0.5% short position out on HRI earlier in January. Saba shows no signs of stopping despite Herald defeat as 'the battle is still far from over' The shor...
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