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Merryn Talks Money
How Saba's Boaz Weinstein Plans to Transform UK Investment Trusts
Jan 15, 2025
Join Boaz Weinstein, founder and CIO of Saba Capital Management, as he dives into his visionary strategies for UK investment trusts. Known for shaking up boards with his activist investments, he explains why he’s targeting the UK now. Discover the significant discounts in these trusts and how management changes could bolster investor confidence. Weinstein also discusses the need for strategic governance reforms and the complexities of enhancing shareholder value amidst evolving market dynamics.
51:23
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Quick takeaways
- Boaz Weinstein's Saba Capital has invested significantly in underperforming UK investment trusts to advocate for board changes and improve governance.
- The podcast discusses how rising interest rates have impacted the appeal of growth funds, prompting activist investors to seek out undervalued assets.
Deep dives
The Value of Investment Trusts
Investment trusts are companies that invest in various assets, offering a unique opportunity for investors to access diversified portfolios including private equity, smaller companies, and emerging markets. Unlike regular investment funds, they operate with the ability to borrow for investment, giving them a potential edge in capitalizing on market opportunities. However, many investment trusts in the UK have recently been trading at significant discounts to their net asset values, indicating weak demand and underperformance. This situation poses an opportunity for activist investors to influence board changes and improve governance within these trusts.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode