The Blog

Engaging Retail for Better and for Worse: Live Lessons from Saba vs UK Trusts

Since December 2024, a fascinating case of investor activism has being playing out in the UK. US hedge fund Saba Capital Management has acquired stakes in seven underperforming UK investment trusts, totalling around £1.5 billion – and is now requesting emergency shareholder meetings to replace existing directors and explore options like cash exits, trust mergers, or taking over management themselves. 

In response, the trusts have gone into panic mode, frantically communicating with shareholders – particularly retail investors – urging them to vote in upcoming emergency meetings.

As an organisation dedicated to promoting the inclusion of everyday individuals in companies’ investor relations, TEA, and our CEO and founder, Sheryl Cuisia (SherylXInvest) – who holds shares in each of the seven trusts (plus over 1,400 other UK companies) – are keeping a close eye on the Saba saga. We’re reporting on the communications coming from the trusts, attending the requisitioned general meetings and using Sheryl’s expertise from her past life as a proxy solicitation and corporate governance consultant to bring helpful insights and lessons that can be learned from this case.

Follow Sheryl and TEA on LinkedIn to get the latest, and check out Sheryl’s in-depth analysis in the following posts:

1. Sheryl breaks open the shareholder comms urging her to VOTE.

2. Let’s open more letters together from the UK investment trusts that have received requisitions for General Meetings from Saba Capital Management.

3. As five more UK investment trusts prepare to face-off with Saba Capital Management, Sheryl shares a detailed look at the vote outcome of the 22 Jan Herald Investment Trust PLC General Meeting.

Join TEA! Let's shape the financial inclusion agenda together by facilitating inclusive investor engagement. Sign up now for FREE!

Sign up to our newsletter to stay up to date