In a letter seen by Investment Week sent to Saba on Tuesday (28 January), EWI’s chair, Jonathan Simpson-Dent, explained that he has “specific concerns about the execution risk” of the proposals that have “been broadly applied to all seven investment trusts targeted in this campaign”.
Liquidity issues
In previous communications, Saba said it plans to offer “immediate” liquidity to investors near to net asset value, a claim that Simpson-Dent queried.
“A plan of this sort would mean a fundamental departure from the trust’s investment policy requiring both shareholder and Financial Co…
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