According to disclosures by the Saba-managed Saba Capital Income & Opportunities fund II, the US vehicle – which focuses on investing in closed-ended funds across the world – took a small stake in Smith's £2bn investment trust as of 31 October 2024, the most recent date at which Saba revealed its portfolio holdings. The Saba fund bought total return swaps giving a value of at least $5.7m in the FTSE 250 investment trust. Fundsmith's profit decline forces Terry Smith to take second pay cut However, Investment Week understands that since late October last year, Boaz Weinstein's hed...
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