The first-of-its kind proposed rollover of an investment company into an actively managed UCITS ETF shows that Saba’s push for liquidity is beginning to bear fruit, according to analysts.
Today (2 May), Middlefield Canadian Income (MCT) said it intends to propose an option to offer liquidity to shareholders, making it the second investment trust of the nine targeted by US hedge fund Saba Capital to propose some form of solution. Middlefield's changes would see the trust wound up and rolled over into an actively managed ETF, marking a first for the UK-listed investment company sector. Saba withdraws second requisition notice on European Smaller Companies after 'constructive' talks "While we have seen traditional rollovers into open-ended funds or passive ETFs befor...
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