Edison issues report on Edinburgh Worldwide Investment Trust (EWI)

Summary by AI BETAClose X

Edison Investment Research has issued a report on Edinburgh Worldwide Investment Trust (EWI), highlighting Saba Capital Management's renewed attempt to gain control of the company after a previous rebuff in February 2025 where 63.8% of shareholders voted against Saba's proposals. Saba has not provided details on its current plans, unlike its previous proposal to take over management and alter the investment strategy. EWI's board has responded with its own proposals, including a tender offer and a merger with Baillie Gifford US Growth Trust, following measures implemented in November 2024 that have led to improved performance over the last twelve months against its benchmark and peers.

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Edison Investment Research Limited
Edison issues report on Edinburgh Worldwide Investment Trust (EWI)

30-Dec-2025 / 10:21 GMT/BST
The issuer is solely responsible for the content of this announcement.


 

London, UK, 30 December 2025

 

Edison issues report on Edinburgh Worldwide Investment Trust (EWI)

Edison issues report on Edinburgh Worldwide Investment Trust (LSE: EWI)

Edinburgh Worldwide Investment Trust (EWI) is once more under fire from activist US hedge fund Saba Capital Management. This is an urgent call to action for EWI shareholders to make their feelings known. Saba received a resounding rebuff when it tried to oust EWI’s board in February 2025, with 64.7% of EWI’s share base casting their vote and 63.8% voting against Saba (98.4% of votes ex Saba and their associates were against). The company is now trying, for a second time, to put its own US-based representatives in change of EWI. This time, there are no details about what Saba plans to do with EWI; in February 2025, it proposed taking over management of the company, collecting the fees and changing the investment strategy. In its latest takeover attempt, Saba has failed to engaged with EWI’s board, which has put forward proposals for the company, including a tender and a merger with Baillie Gifford US Growth Trust (USA). EWI investors will recall that in November 2024, the board implemented a series of measures to address the company’s underperformance; these appear to have been successful as EWI’s performance has notably improved over the last 12 months, both compared with the S&P Global Small Cap Index benchmark and versus its peers in the AIC Global Smaller Companies sector.

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