Saba Capital Smells Value In The UK While Teaming Up With Ackman For Sculptor Bid

Boaz Weinstein’s Saba Capital has fallen sharply this year as the hedge fund manager’s bets against equities have failed to produce results. According to the Financial Times, Saba’s flagship fund is down 7.7% in 2023. The flagship fund bets long and short in equity and credit markets, with around $1.3 billion in assets under management. Another fund, managing $1 billion, which is designed to protect against periods of “market stress and dislocation,” has declined 8.1%. Q3 2023 hedge fund letters, conferences and more Saba was one of the world’s best-performing hedge funds in 2020 thanks to Weinstein’s decision in 2019…