Saba Capital defeated at Baillie Gifford US Growth and Keystone meetings

USA and KPC meetings

Linus Uhlig
clock • 3 min read

US activist hedge fund Saba Capital has been defeated in two general meetings at a pair of Baillie Gifford investment trusts today (3 February).

Over 60% of shareholders at Keystone Positive Change (KPC) voted against Saba's resolutions while just 0.8% of non-Saba shareholders voted in favour of the hedge fund's proposals. At a simultaneous general meeting in Edinburgh, Baillie Gifford US Growth (USA) investors voted against Saba's resolutions, with 65.6% of shareholders voting down the proposed changes. Excluding Saba's own votes, 98.5% of votes cast were against the requisitioned resolutions. Overall, shareholder turnout to the polls was 78.4%, the USA noted. At the KPC general meeting in London, attended by Investment We...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Why psychological factors are critical for targeted support's success

Why psychological factors are critical for targeted support's success

Hidden diversity within segments

Greg B Davies
clock 14 November 2025 • 4 min read
Pre-Budget panic has 'got worse' with the current government

Pre-Budget panic has 'got worse' with the current government

‘Over the years the rumours have become more sensational’

Isabel Baxter
clock 14 November 2025 • 2 min read
Women in Financial Advice Awards 2025: Best pictures from the night

Women in Financial Advice Awards 2025: Best pictures from the night

Celebrating the best women in the industry

Professional Adviser
clock 14 November 2025 • 1 min read