Saba Capital activist Boaz Weinstein calls for removal of Baillie Gifford-run tech investment trust’s entire board

Core Viewpoint - Boaz Weinstein is advocating for the removal of the entire board of the Edinburgh Worldwide Investment Trust (EWIT) due to perceived "unprecedented" value destruction and failure to meet shareholder performance expectations [1] Group 1: Company Performance - EWIT's net asset value (NAV) has decreased by 30.8% over the past five years [3] - The share price return of EWIT has fallen by 35% during the same period [3] - EWIT has significantly underperformed its benchmark, the FTSE All-Share Index, which has increased by 71.4% over the last five years, resulting in a performance lag of over 100% compared to the benchmark [3] Group 2: Portfolio Composition - EWIT's portfolio consists of a global mix of smaller and emerging public and private companies focused on technology innovation and transformation [2] - The portfolio targets companies with "significant disruptive growth potential" [2] - Notably, SpaceX, owned by Elon Musk, constitutes 8.4% of EWIT's portfolio [2]