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 good advice relies on asking difficult questions

Why good advice relies on asking difficult questions

Difficult questions a 'core feature' of good advice

Ahmed Bawa
clock 21 November 2025 • 4 min read
Advice firm revenues hit £6bn in 2024 but job numbers fall

Advice firm revenues hit £6bn in 2024 but job numbers fall

Retail investment adviser posts across all firms fell to 37,441

Isabel Baxter
clock 21 November 2025 • 2 min read
Feel Good Friday: Castlefield sponsors and takes part in annual sleepout

Feel Good Friday: Castlefield sponsors and takes part in annual sleepout

Event has raised £28,334 so far

Professional Adviser
clock 21 November 2025 • 1 min read