Edinburgh Worldwide Investment Trust Plc

Saba Capital Management has criticised the performance of the Edinburgh Worldwide Investment Trust (EWIT) "unacceptable" after shareholders voted against a tender offer put forward by the Baillie Gifford-managed trust. On 10 April, 53.8% of shareholders rejected the proposal, which EWIT had argued w

A proposed merger between two Edinburgh-based investment trusts managed by Baillie Gifford has been blocked by US activist investor Saba Capital, escalating a battle for control over the funds. Saba, led by hedge fund manager Boaz Weinstein, holds a 29% stake in Baillie Gifford US Growth Trust and a

Edinburgh Worldwide Investment Trust plc, a fund managed by Baillie Gifford, has posted a 24.9% increase in net asset value (NAV) per share for the six months to 30 April 2021. At the same time, the companies comparative index increased by 30.3% and the share price rose by 24.5%.