Chancery Lane Income Planners' Doug Brodie: Saba is the wake-up call trust boards needed

There is a 'big elephant in the room'

The shake up, wake up for trust boards caused by Saba Capital's opportunist activities will be positive for retail investors and the sector as a whole in the long term.

As Saba hunts down seven boards, there is a mighty big elephant in the room: we have many directors on the boards who are out of their depth, doing nothing more than rubber stamping reports and acting as each other's committee chairs. Such action is only happening because of the leadership failure across the sector. Those who sit on top with big, expensive CVs as their sole justification for board selection have clearly not been using their influence in the relevant areas to deal with this embedded issue (or perhaps the truth is they do not actually have influence anymore). Hedge f...