Saba Capital

The Edinburgh Worldwide Investment Trust (EWIT) is faced with a significant boardroom overhaul as the New York-based activist investor Saba Capital Management seizes control. At the trust's AGM, which took place today, Saba won the vote to appoint three directors to the trust’s board. With fiv

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

The board of Edinburgh Worldwide Investment Trust (EWIT) has narrowly survived a second attempt by activist investor Saba Capital to unseat it. In a tightly contested vote, 53.2% of cast votes supported retaining the current directors, while 46.8% opposed them. Saba’s proposal had aimed to rem

The board of Edinburgh Worldwide Investment Trust (EWIT) has secured further crucial backing in its ongoing defence against activist investor Saba Capital. Glass Lewis, a prominent independent proxy advisory firm, has advised shareholders to reject all of Saba’s proposals at the requisitioned

Edinburgh Worldwide Investment Trust (EWIT) has convened a shareholder meeting for 20 January to address a renewed challenge from New York hedge fund Saba Capital Management. The trust, managed by Baillie Gifford, is strongly urging investors to reject Saba's proposal to oust the current board and i

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