Saba Capital has withdrawn a general meeting requisition at CQS Natural Resources Growth and Income (CYN) after “a series of very constructive discussions” between the investment trust and the US activist hedge fund.
Saba originally submitted a requisition for a second general meeting at CYN on 12 February as part of its second round of investment trust activism, with CYN one of two vehicles targeted by the Manhattan-based activist in both its ‘Plan A' and ‘Plan B' campaigns. However, the trust's board revealed today (3 March) that it has engaged in constructive conversations with Saba and the hedge fund has consequently agreed to withdraw its request for a general meeting so that the board and its advisers can carry out a strategic review. Saba Capital launches next round of trust activism targ...
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
