Saba Capital Seizes Control of Edinburgh Worldwide Investment Trust Following Boardroom Dispute
Saba Capital, led by Boaz Weinstein, has successfully ousted the board of Edinburgh Worldwide Investment Trust (EWIT) in a shareholder vote, gaining control of the tech-focused fund. The dispute centered on EWIT's discounted net asset value (NAV) and its stake in SpaceX, which is EWIT's largest holding at around 20% of its portfolio. The outcome marks a significant shift in the fund's management and strategy.
Topics: activist hedge fund board ouster corporate governance investment trust SpaceX