Wall Street activist mounts fresh attack on British SpaceX investor

Core Viewpoint - Boaz Weinstein of Saba Capital is attempting to oust the board of Edinburgh Worldwide Investment Trust (EWI) due to its significant underperformance and lack of strategic improvements since his last intervention [2][3]. Group 1: Performance Concerns - EWI has been accused of "massively underperforming" and failing to improve its performance since concerns were raised last year [2]. - The share price of EWI has declined by 37% over the past five years, following a three-year slide, despite a surge during the pandemic due to investments in companies like Ocado, Tesla, and Zillow [6]. Group 2: Shareholder Actions - Saba Capital, which owns a 30% stake in EWI, plans to requisition a general meeting to remove the entire current board, citing a lack of faith in their ability to implement necessary changes [3][4]. - Previous attempts by Saba Capital to challenge Baillie Gifford's management were fended off earlier this year when shareholders supported the existing management [4]. Group 3: Investment Focus - EWI currently manages nearly £850 million in assets, with approximately 12% invested in SpaceX [5]. - The fund was established by Baillie Gifford in 1998 to focus on innovative high-growth technology companies [5].