Take on Trusts – January 2025

Take on Trusts – January 2025

This month, Edison’s investment companies team extensively covered Saba Capital’s campaign, which is targeting seven UK-listed investment trusts. We believe that Saba will likely favour a plain opportunistic arbitrage strategy to exploit the discounts to NAV, coupled with growing its own assets under management and fee income, over providing shareholders with a truly differentiated value proposition tailored to each of these trusts. We encourage all investors to vote at the upcoming general meetings to actively shape the future of these trusts. For more insights, please explore our thematic report, a special episode of our ‘Uncovering Trusts’ podcast, as well as Edison’s recent webinar. We have also published research notes and audiovisual content on four of the targeted trusts, including Baillie Gifford US Growth Trust, CQS Natural Resources Growth & Income, Edinburgh Worldwide and Henderson Opportunities Trust.


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