Janus Henderson ESCT slams Saba for continued 'misleading statements' as it defends its record

Saba strategy of 'deliberate misdirection'

Janus Henderson’s European Smaller Companies trust (ESCT) has criticised Saba Capital for continuing to “make misleading statements” about the trust’s performance, as the battle between the US activist hedge fund and seven UK investment trusts rumbles on.

According to the board of ESCT, "Saba's strategy is one of deliberate misdirection", adding that the trust has outperformed its benchmark over one, three, five and ten years since Ollie Beckett, the current portfolio manager, took the reins in 2011.  It added that the trust has generated net asset value (NAV) total returns of 51.6% over five years and 202.2% over the ten years to 31 December 2024.  Friday Briefing: The time for talking is over, Saba vote will show how much the industry cares about retail investors Data from the Association of Investment Companies showed that ESCT's...