UK Watchdog Urged to Intervene in US Hedge Fund's 'Repetitive Attacks' on British Investment Trusts

The Financial Conduct Authority (FCA) has been urged to intervene to stop US hedge fund Saba Capital from repeatedly targeting British investment trusts. Saba has announced its third attempt to oust the board of Edinburgh Worldwide Investment Trust, despite massive opposition from other shareholders. The Association of Investment Companies has called on the FCA and the Government to protect retail shareholders' interests and curb Saba's 'epetitive attacks' on the sector.