-
1 month ago | 
thearmchairtrader.com | Stuart Fieldhouse |Saba Capital
Shareholder activism in the UK has expanded significantly, with campaigns becoming more frequent and sophisticated. In 2023, the number of new public activist campaigns in Europe surged by 68%, with the UK remaining a primary target. US-based activist investors have also increased their focus on UK firms, launching 40% of all UK activist campaigns in 2024. US activist hedge fund Saba Capital has been one of the most high profile of these, with its ongoing raid in the UK investment trusts market.
-
2 months ago | 
thearmchairtrader.com | Stuart Fieldhouse |Saba Capital
It has been a rough start to the year for the UK investment trust sector, but could there be some silver linings here? And have valuable lessons been learned? Having put forward proposals to seven UK investment trusts during December 2024, US activist hedge fund Saba Capital called for a general meeting with each of the targeted investment trust boards to decide their fate.
-
2 months ago | 
thearmchairtrader.com | Stuart Fieldhouse |Saba Capital
US hedge fund Saba Capital has seen its bid to change the boards of two more investment trusts decisively defeated. Shareholders of both Baillie Gifford US Growth and Keystone Positive Change votes against Saba’s proposals. The hedge fund had been planning to replace the existing boards with its own nominees and potentially also capture the mandates for those trusts.
-
2 months ago | 
thearmchairtrader.com | Stuart Fieldhouse |Saba Capital
The Association of Investment Companies (AIC) has launched a campaign to ensure all investors can exercise their right to vote their shares. The ‘My share, my vote’ campaign seeks to end poor practices among some investment platforms and providers, such as failing to pass on voting rights and information, charging customers to vote, and declining to vote shares even when requested to do so.
-
Jan 24, 2025 | 
thearmchairtrader.com | Stuart Fieldhouse |Saba Capital
Shareholders in the Herald Investment Trust voted against the proposals of US hedge fund Saba Capital this week, in the first of a series of critical votes as Saba seeks to make board changes at several investment trusts. Saba has requisitioned General Meetings of six other trusts to remove their existing directors and replace them with its own nominees.
-
Jan 17, 2025 | 
thearmchairtrader.com | Stuart Fieldhouse |Saba Capital
US hedge fund Saba Capital has mounted a bid to change the boards of seven UK-listed investment trusts. Investors in these trusts are now approaching the voting deadlines at which the fates of these trust boards are to be determined. Not only that, but Saba’s campaign is also causing many within the City of London to question the ethics of the coup.
-
Jan 13, 2025 | 
thearmchairtrader.com | Stuart Fieldhouse |Saba Capital
US-based hedge fund Saba Capital launched a stunning raid on UK investment trusts in December, pushing for wide-ranging governance changes at seven UK-listed trusts. The replacement of board directors would in turn potentially allow it to capture the investment management mandates on the trusts. The proposals from Saba would fundamentally change these investment trusts. Initially Saba is proposing to replace the current independent boards with just two new directors.
-
Nov 25, 2024 | 
ng.investing.com | Saba Capital
Saba Capital Management, L.P. and Boaz Weinstein have increased their stake in the PIMCO Dynamic Income Strategy Fund (NYSE:PDX) through recent acquisitions. According to a recent SEC filing, the transactions occurred on November 21 and 22, with a combined purchase of 81,273 shares at prices ranging from $26.19 to $26.23 per share. The total value of these acquisitions amounts to approximately $2.13 million.
-
Oct 24, 2024 | 
ng.investing.com | Saba Capital |Boaz Weinstein
NEW YORK—Saba Capital Management, L.P. and Boaz Weinstein, both significant shareholders of BlackRock (NYSE:) Capital Allocation Term Trust (NYSE:BCAT), have sold shares worth approximately $700,625, according to a recent filing with the Securities and Exchange Commission. The transactions occurred over two days. On October 22, 19,442 shares were sold at a price of $16.20 per share. The following day, October 23, saw the sale of 23,895 shares at $16.14 per share.
-
Oct 27, 2023 | 
advfn.com | Saba Capital
Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] October 27 2023 - 09:32AM Edgar (US Regulatory) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 10)* ClearBridge MLP and Midstream Fund Inc (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securities) 184692200 (CUSIP Number) Saba Capital Management, L.P. 405 Lexington Avenue 58th Floor New York, NY...
