Saba Capital CEO and founder of the US-based activist hedge fund Boaz Weinstein has slammed the ‘UK boys club’ investment trust world for its perpetuation of trading discounts and underperformance.
In a letter sent by Weinstein late last week in response to a series of questions posed to Saba by the chair of Edinburgh Worldwide investment trust (EWI), Jonathan Simpson-Dent, the Saba CEO took aim at the wider sector for its lack of dynamism and representation. He said "during the course of our campaign, phenomenal director candidates have reached out to Saba because they share our frustration with the ‘UK boys club' that has perpetuated underperformance and significant trading discounts". Saba has targeted seven UK trusts it is a major shareholder in, with five the the total requ...
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