Boaz Weinstein takes aim at seven UK investment trusts

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Financial Times 15h ago

Boaz Weinstein takes aim at seven UK investment trusts - Financial Times

Quick Summary:

In June, Weinstein suffered multiple setbacks in his plan to take charge of several BlackRock closed-end funds, as shareholders rejected the directors he nominated and voted to keep the funds’ manager.

There are 294 investment trusts in the UK with assets of £265bn, according to the Association of Investment Companies, which excluded venture capital trusts from its calculations.

If the resolutions are passed, and if the new boards decide to replace the existing fund managers, then Weinstein plans to put forward Saba as the trusts’ new manager.