Saba Capital, an American investment fund, is fundraising for a $500m fund that will look to take activist positions in UK investment trusts holding listed equity, according to a report by Investment Week.
Citing unnamed sources familiar with the matter, the report said that the strategy is supported by the sustained deep discounts faced by investment trusts and the UK’s governance framework.
The new strategy, which originally targeted 1 September for its launch date, is the second iteration of the firm’s CEF Special Opportunities fund, which launched in April this year, according to the report.
