US Markets
Home›US Markets›M&A & Deals›Saba Capital renews pressure campaign on Baillie Giffo…
Saba Capital renews pressure campaign on Baillie Gifford US Growth Trust
The campaign centers on Saba taking large stakes and pushing for changes, drawing criticism that its demands are often vague and potentially harmful to UK investors.
Guardian Business describes a renewed phase of Boaz Weinstein’s Saba Capital campaign targeting the Baillie Gifford US Growth Trust, part of the FTSE 250 investment trust sector.
The outlet says Saba’s approach involves taking large stakes in UK funds and then demanding change, sometimes in vague terms, and frames the fund manager’s actions as potentially self-interested, short-termist, or damaging for UK investors.
Guardian Business adds that Saba’s belligerent strategy has made it harder for trust boards to remain inactive when shares trade at a wide discount to underlying asset value for extended periods.
Still, the outlet argues that in this episode, Saba’s assaults again raise concerns about whether the pressure serves investors’ long-term interests.
Latest closeFTSE 100 10,441.60 ▼0.2%