Asset Management

FCA urged to intervene over Saba Capital’s UK trust takeover attempt

Baroness Ros Altmann says US hedge fund should not be allowed to ‘opportunistically acquire great British funds on the cheap’

Baroness Ros Altmann has said Saba Capital’s attempt to assume control of seven UK investment trusts ‘should be a case for FCA intervention’
Baroness Ros Altmann has said Saba Capital’s attempt to assume control of seven UK investment trusts ‘should be a case for FCA intervention’ Photo: Bloomberg via Getty Images

Baroness Ros Altmann, the former UK pensions minister, has called on the Financial Conduct Authority to intervene over an attempt by US hedge fund Saba Capital to overhaul management at seven UK investment trusts.

The move is not “consistent with reasonable standards of corporate governance,” Altmann told Financial News.

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