Governance is always a major issue no matter what type of investment you're talking about. As a result, investors should always consider governance before making an investment.
At Grant's Annual Fall Conference, Boaz Weinstein of Saba Capital Management explained why closed-end funds in the U.K. might make better investments. He also discussed why activists tend to avoid closed-end funds.
Weinstein is an activist investor in closed-end funds who buys funds quoted at attractive discounts to net asset value. However, he doesn't just sit and wait for time to close that gap. He often takes aggressive steps to close those gaps — sometimes to the frustration of those funds' management and directors.
Weinstein explained that...
