• Tue, February 18, 2025

by: MoneyWeek

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  • Wed, February 19, 2025

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Saba seven becomes four: what now for UK investment trusts?

Having been defeated by seven UK investment trusts' shareholders, Saba's new approach poses the question of what investment trusts mean to retail investors
The article from MoneyWeek discusses Saba Capital Management, a hedge fund known for its activist approach in the investment trust sector. Founded by Boaz Weinstein, Saba has been actively targeting UK investment trusts, particularly those trading at significant discounts to their net asset value (NAV). The fund employs strategies like pushing for changes in management, advocating for share buybacks, or even calling for the trusts to be wound up to realize value for shareholders. Saba's involvement often leads to increased volatility and attention from other investors and analysts. The article highlights several instances where Saba has engaged with trusts, resulting in various outcomes from board changes to strategic shifts. It also notes the mixed reactions from the market, with some seeing Saba's interventions as beneficial for unlocking value, while others view it as disruptive. The piece concludes by suggesting that while Saba's tactics can be controversial, they often bring underlying issues to the forefront, potentially leading to better governance and performance in the long run.

Read the Full MoneyWeek Article at:
https://moneyweek.com/investments/saba-capital-management-investment-trusts

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