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Saba pushes Herald up to a premium as it 'aggressively' buys up shares in bid to 'force through agenda'
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US hedge fund Saba Capital had a 26% stake in the trust as of last Friday (10 January), but recent Stifel analysis found it has nearly reached the shareholder 29.9% limit. The activist investor launched a takeover campaign against HRI and six other trusts it has a major holding in at the end of last year, predicated on the complaint their boards failed to hold the investment managers accountable for the trusts' wide discounts to their respective net asset values, and therefore let clients down. Proxy voting advisers side with Herald board to vote against Saba Capital Saba's founder...
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