New targets: Boaz Weinstein’s firm Saba Capital announced that it will call meetings at four UK investment trusts to vote on whether to change their structure.
The trusts in Saba’s crosshairs are CQS Natural Resources Growth and Income, European Smaller Companies Trust (ESCT), Middlefield Canadian Income and Schroder UK Mid Cap Fund.
Weinstein’s firm Saba Capital announced yesterday that it will call meetings at the trusts to vote on whether to change their structure.
Saba said that turning the four closed-ended trusts into open-ended would ‘eliminate’ their ‘discount’, the difference between the trust’s share price and the value of its assets.
Wall Street raider Boaz Weinstein has launched another assault on four UK investment trusts after failing to take over six others.
