Second major fund manager joins calls for shareholders to reject Saba coup Janus Henderson has joined rivals in urging investors of its London-listed investment trusts to reject a takeover attempt from US hedge fund Saba Capital.
James Williams, chairman of Janus Henderson's European Smaller Companies Trust, on Wednesday highlighted his fund's 'long-term outperformance' and warned shareholders Saba is attempting to remove a 'highly qualified, independent board that acts in all shareholders' interests'.
The group, which has $382.3billon in assets under management, told shareholders of its European Smaller Companies and Henderson Opportunities trusts to vote against resolution brought by Saba in polls scheduled for 5 and 4 February respectively.
Saba is hoping to seize control of seven London-listed trusts it has built substantial stakes in, with efforts to overhaul each fund's board set to be followed with resolutions to appoint itself as investment manager.
It follows an intervention from £225billion asset manager Baillie Gifford, which urged US Growth Trust, Keystone Positive Change and Edinburgh Worldwide investors to reject Saba's resolutions.
