Boaz Weinstein’s investment firm, Saba, has intensified its campaign to influence the governance of a London-listed fund managed by Baillie Gifford. According to sources, Saba has formally urged other investors to support the ousting of current board members in anticipation of a shareholder vote scheduled for January.
The move marks a significant development in the ongoing tensions between Saba and Baillie Gifford, the asset management firm responsible for the fund. Saba, a notable investor led by Boaz Weinstein, has expressed concerns over the fund’s strategic direction and governance practices, prompting its call for change at the board level.
Shareholders now face a pivotal decision ahead of the upcoming vote, which could lead to substantial shifts in the fund’s governance structure. The vote comes as the fund seeks to reassure investors and clarify its future management strategy amid these disagreements.
Baillie Gifford has yet to publicly respond to the efforts by Saba. As the January vote approaches, industry observers will be watching closely to see how investor sentiment develops and whether the proposed changes gain sufficient support.