Saba Capital's requisitioned meetings cost the original seven trusts 'millions'

Full costs to be disclosed in firms’ upcoming accounts

The motion by US activist hedge fund Saba Capital to call requisitioned meetings across seven UK-listed investment companies last year, left shareholders with a multi-million pound bill between them.

Back on 18 December 2024, Baillie Gifford US Growth, Edinburgh Worldwide, Keystone Positive Change, Henderson Opportunities, European Smaller Companies (ESCT), CQS Natural Resources Growth & Income (CQS) and Herald investment trust all came under fire from one of their major shareholders. The Big Interview: Saba Capital's founder Boaz Weinstein says he's not going anywhere In a now famed letter, Saba and its CIO and founder Boaz Weinstein, activated a campaign with the aim to oust the incumbent boards and replace them with Saba-nominees and some independent directors. According to ...