Boaz Weinstein's hedge fund posts big gains after UK trust campaign

Boaz Weinstein: Boaz Weinstein is the founder and chief investment officer of Saba Capital Management, an activist hedge fund focused on strategies involving closed-end funds and investment trusts. His firm has conducted a sustained campaign over the past two years targeting UK-listed investment trusts that trade at discounts to their net asset value, pushing for board changes and shifts in management to unlock value. Recent activities include ongoing engagements with trusts such as Baillie Gifford US Growth Trust and expansions into property sector holdings. Sector Response: Targeted UK investment trusts have implemented measures including share buybacks and other steps to narrow discounts to net asset value in response to activist pressure. Ongoing Campaigns: Activist efforts remain active with a key shareholder vote upcoming at the Baillie Gifford US Growth Trust regarding proposed board nominees. Broader Engagement: The approach has extended into the UK property sector with positions built in companies including real estate investment trusts and related firms.