Key Takeaways
- • Tom Burnet, chair of the GBP1.1bn Baillie Gifford US Growth Trust, has urged UK ministers to strengthen investment trust regulation.
- • Saba Capital Management has increased its stake in the trust to approximately 29.9%, mounting another activist challenge.
- • Saba is seeking to appoint three directors to the trust's board.
Summary
Tom Burnet, chairman of the Baillie Gifford US Growth Trust, has called on UK ministers to tighten the rules governing investment trusts, according to the publisher's summary of the story. The call comes as the GBP1.1bn trust faces another activist campaign from Saba Capital Management.
Saba has raised its holding in the trust to approximately 29.9%. It is seeking to appoint three directors to the board. The available source material does not provide further detail on the terms of Saba's nominations or the trust's formal response, so those points should be confirmed against the original reporting.
Saba has raised its holding in the trust to approximately 29.9%. It is seeking to appoint three directors to the board. The available source material does not provide further detail on the terms of Saba's nominations or the trust's formal response, so those points should be confirmed against the original reporting.
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