American hedge fund relaunches campaign against Scottish investment trust

American hedge fund Saba Capital, led by Boaz Weinstein, has relaunched its campaign against the Edinburgh Worldwide Investment Trust (Ewit) after a recent shareholder meeting where its proposals were largely rejected. Weinstein criticized the current board for underperformance and proposed appointing three independent directors to enhance governance. Saba, which holds 30% of Ewit shares, previously faced a 93% rejection of its proposals by shareholders. Weinstein's concerns include the trust's decision to sell its stake in Space X before its valuation soared, highlighting potential lost opportunities for investors. The Ewit board has attempted to engage with Saba but claims the hedge fund has not responded.