Hedge fund Saba's Weinstein steps up campaign against UK investment trusts
Saba Capital Management has added more UK investment trusts to its activist campaign and plans to further shake up the sector, the hedge fund's founder Boaz Weinstein told the LSE Alternative Investments Conference on Monday.
How much is Weinstein’s UK investment trust salvo costing Saba?
Saba’s minority stakes in UK investment trusts have a total value of $3.8bn, approximately. Leverage of 3x would be unremarkable for a hedge fund, suggesting $1.2bn of equity and $2.6bn of debt.
‘Significant shift in strategy’: Saba Capital targets four more investment trusts
Saba Capital has requisitioned meetings at a further four investment trusts, with the US hedge fund aiming to convert each trust into open-ended funds.
Boaz Weinstein Starts New Campaign Against Four UK Trusts
Activist hedge fund manager Boaz Weinstein has kicked off a new campaign against four UK investment trusts following a failed attempt to gain control of some funds earlier.
Saba's Boaz Weinstein requests meeting with House of Lords member to discuss UK trusts
Saba Capital’s Boaz Weinstein has made a public callout to House of Lords representative Ros Altmann for a meeting regarding UK investment trusts, the founder and CIO’s first public move to engage with a British politician and campaigner amid his company’s activism in the sector.
Saba's not done yet! Raider takes aim at four more investment trusts
Boaz Weinstein's firm Saba Capital announced that it will call meetings at the trusts to vote on whether to change their structure.
Saba capital management sells $1.9 million in Nuveen New Jersey fund shares
Saba Capital Management, L.P., a notable stakeholder in Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ), recently executed significant stock sales in the $499.33M market cap fund. The firm ...
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Saba demands second vote at CQS Natural Resources Growth
It wants to create an open-ended version of the trust, despite the board already undergoing a strategic review ...
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Saba Capital Announces Intention to Requisition General Meetings at Four U.K.-Listed Trusts to Provide Liquidity for Shareholders Through Open-Ended Fund Transition
NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today announced its intention to requisition the Boards of Directors (the ...
Abrdn life sciences investors sees $871,708 in stock sales by Saba Capital
Saba Capital Management, L.P., a significant shareholder in abrdn Life Sciences Investors (NYSE:HQL), recently reported the sale of 62,743 shares of common stock, amounting to a total value of ...
Middlefield Canadian Income notes Saba's general meeting requisition
Middlefield Canadian Income PCC on Thursday advises shareholders to take "no action at this time", in response to Saba Capital Management LP's requisitioning of a general meeting. The investor focused ...
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‘Saba Capital saga signals time for introspection’
The investment company sector has weathered many storms through its long history, but the recent Saba Capital saga has been more treacherous than most.