UK watchdog scrutinises investment trusts’ battle with US hedge fund

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Financial Times 19h ago

UK watchdog scrutinises investment trusts’ battle with US hedge fund - Financial Times

Quick Summary:

He said Saba’s campaign to take control of both investment trusts’ boards and also become their asset manager raised potential conflicts of interest.

However the investment trust industry has raised concerns that retail investors might not turn out to vote, paving the way for Saba to take over.

The FCA is closely monitoring the situation and staying in close contact with the investment platforms that handle communications with investors in the investment trusts, according to a person briefed on the matter.