In this episode, our director of content, investment companies Milosz Papst talks about Edinburgh Worldwide Investment Trust. This is a timely podcast as the trust is once again under fire from US-based activist hedge fund Saba Capital Management. Shareholders voted decisively against Saba’s proposals in February 2025 and Edinburgh Worldwide’s board is urging shareholders to do so again. This time round, Saba has amassed a larger stake in the trust and is proposing to replace Edinburgh Worldwide’s board with three of its own representative but has given no indication about the trust’s future strategy. Timing is tight as the general meeting is scheduled for 12:00 noon on 20 January 2026. The cut-off for submitting votes is 12:00 noon on Saturday 17 January 2026 but for platforms, the date may be as soon as 12 January 2026.

Papst provides a brief introduction to Edinburgh Worldwide before highlighting how the board has proactively addressed a period of poor performance. This included enhancing the investment team and meaningful improvements in portfolio construction and execution, such as fewer holdings and stricter measures to address underperforming investments. The portfolio was reshaped to include more profitable, cash-generative companies and to have greater sector diversification. These efforts have led to notably better performance.

Attention then returns to the pressing issue of Saba. Edinburgh Worldwide’s board strongly urges all of its shareholders, no matter how large or how small, to vote against Saba’s proposal to take control of the trust in a move that would favour Saba over the trust’s existing shareholders. Saba has not stated its intentions, beyond replacing the board, and has failed to engage, including a lack of response to a list of questions in Edinburgh Worldwide’s open letter on 30 December 2025.

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About Uncovering Trusts: Uncovering Trusts is a podcast run by Edison analysts, which is released every two weeks. Subscribe to hear analyst interviews on how investment trusts maximise returns while managing risks for investors.

Edison’s investment companies team recently published an update on Edinburgh Worldwide Investment Trust – this company urgently needs its shareholders to vote. The appeal to vote goes out to all shareholders no matter how large or how small. For the second time, having been soundly beaten in February 2025, Saba Capital is attempting to replace Edinburgh Worldwide’s directors with Saba representatives but this time they have not indicated their other intentions. Edinburgh Worldwide’s general meeting is on 20th January 2026; shareholders need to vote by 17th January or maybe as early as 12th January for platform investors. The trust offers a unique opportunity to invest in long-term growth businesses, via both listed and private companies. Importantly, the board’s actions to improve Edinburgh Worldwide performance are bearing fruit.

In this webinar, Dr. Trevor Polischuk discusses the current trends and innovations in healthcare investment, focusing on the Worldwide Healthcare Trust. He highlights the significant growth potential in the healthcare sector driven by increasing demand, technological advancements, and the impact of artificial intelligence. Key areas of investment include neurology, oncology, medical technology, and diagnostics.

Finsbury Growth & Income Trust’s (FGT’s) investment objective is to achieve capital and income growth and provide shareholders with a total return above that of the broad UK market index. It invests principally in the securities of companies either listed in the UK or otherwise incorporated, domiciled or having significant business operations within the UK, while up to a maximum of 20% of the portfolio, at the time of acquisition, may be invested in companies not meeting these criteria.

Here are four things investors need to know about FGT:

1. FGT has a high-conviction, very concentrated portfolio.
2. The managers seek durable businesses with high returns, low capital intensity and strong cash flow.
3. FGT’s portfolio can be broken down into three broad themes.
4. FGT has a commendable long-term performance record.

If you would like to learn more about FGT, please see our latest research.

Central nervous system (CNS) conditions are among the most significant unmet medical needs globally, with neurological conditions now one of the leading causes of disabilities, and having an impact on over 3.4 billion people worldwide. After decades of limited progress, the CNS field is experiencing a renaissance marked by novel technological advances that are overcoming barriers to effective drug development. Sophisticated blood-brain barrier crossing technologies are finally solving the fundamental delivery challenge, while AI-powered platforms are making unprecedented advances in drug discovery and biomarker identification. Most critically, the development of blood-based biomarkers is enabling early diagnosis and precision patient monitoring, addressing key issues that have historically limited CNS therapeutic success rates.