Richard Stone

Chief executive Richard Stone, pointed out that the trust returned 134% over the last years, and gave investors the opportunity to hold shares in listed and private growth companies such as Nvidia, Anthropic and Databricks.

In a statement they said: “Shareholders need to act quickly if they want to vote at the Baillie Gifford US Growth AGM. Saba Capital has nominated three directors to be voted on at the AGM - Jason Chen, Thomas H. McGlade and James Waterlow, who is an employee of Saba Capital. The AGM is on 23 October at 1pm but the voting deadlines on platforms will be much sooner.”

The company’s share price for the year to 31 May 2026 was 44.5% and its net asset value (NAV) was at 31%, exceeding the S&P 500 Index benchmark’s total return of 29.8%.

Richard Stone, chief executive of the Association of Investment Companies (AIC), said: “Shareholders need to act quickly to express their views loud and clear on the future of their investment trust. Baillie Gifford US Growth gives investors an opportunity to hold both listed and private growth companies and invests in exciting big names like Nvidia, Anthropic, OpenAI and Databricks. Baillie Gifford US Growth has performed well recently, returning 134% over the last three years. 

“Saba Capital and the appointed directors have not explained their plans for the future of this investment trust. Saba has rejected a generous exit offer from the existing board so it’s likely that Saba wants to take control of this investment trust and manage it. It’s vital that all shareholders make their voices heard at this AGM if they want the investment trust to continue with its current mandate and manager.”

It comes after chair Tom Burnett told Scottish Financial News after the trust issuing a circular setting out what was at stake for shareholders if they failed to vote over concerns voter apathy could see Saba takeover the trust, following its requisition notice.

Mr Burnet voiced concerns about shareholders electing three individuals “linked with or employed by Saba” to the board, which it said would “severely compromise” the board’s independence, by not turning up to vote.