Saba Capital has requisitioned meetings at a further four investment trusts, with the US hedge fund aiming to convert each trust into open-ended funds.

Saba Capital Management has added more UK investment trusts to its activist campaign and plans to further shake up the sector, the hedge fund's founder Boaz Weinstein told the LSE Alternative Investments Conference on Monday.

US activist Saba Capital has launched a fresh campaign in the investment trust sector by demanding that four vehicles roll their assets into comparable open-ended funds. Saba has

Edinburgh Worldwide is the last trust to face a vote after six others fought off plans by Saba boss Boaz Weinstein to clear out their directors and replace them with his allies.

Saba Capital plans to call more general meetings at four investment trusts. The US hedge fund business has proposed converting the trusts into open-ended funds, claiming this will mean they “never trade at a discount to net asset value”.

Activist hedge fund manager Boaz Weinstein has kicked off a new campaign against four UK investment trusts following a failed attempt to gain control of some funds earlier.

Boaz Weinstein's firm Saba Capital announced that it will call meetings at the trusts to vote on whether to change their structure.