Reported about 14 hours ago
Activist hedge fund manager Boaz Weinstein has initiated a campaign targeting four UK investment trusts after an unsuccessful bid for control of other funds. His management firm, Saba Capital, is seeking shareholder meetings to propose converting the trusts into open-ended funds, aiming to address long-standing trading discounts. Weinstein argues that shareholders have been stuck in closed-end vehicles for years, and transitioning to open-ended structures could remedy these issues. Despite losing votes on previous attempts, the value of the targeted trusts has tightened since Saba began investing.
Source: YAHOO