Boaz Weinstein takes aim at seven UK investment trusts

  • 📰 FT
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Italia Notizia Notizia

Italia Ultime Notizie,Italia Notizie

US hedge fund trader cites poor performance and outlines plans to put forward his firm Saba as new manager

Activist investor Boaz Weinstein has urged shareholders in seven UK investment trusts to overhaul their boards due to weak performance, and outlined plans to put forward his hedge fund as the trusts’ manager.

The seven trusts in Saba’s firing line, which are managed by Janus Henderson, Herald Investment Management, Manulife and Baillie Gifford, have suffered from wide discounts, whereby the performance of shares has lagged behind the value of the trusts’ assets. Discounts range from 12 per cent to 14.7 per cent on average over three years.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 113. in İT
 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Activist Investor Calls for Board Overhauls at Seven UK Investment TrustsBoaz Weinstein, founder of Saba Capital, is urging shareholders in seven UK investment trusts to replace their boards due to poor performance. Weinstein argues that existing boards haven't held investment managers accountable for inadequate returns. Saba Capital, the largest shareholder in each trust, plans to propose two new directors on each fund's board, including Weinstein himself. If the resolutions are passed, Saba aims to become the new manager of these trusts.
Fonte: ftenergy - 🏆 47. / 63 Leggi di più »