Boaz Weinstein Scores UK Win as Janus Fund Starts Tender (1)

Boaz Weinstein notched a rare win in his campaign against UK investment trusts as a fund run by Janus Henderson Group Plc is starting an offer to buy back shares — allowing the hedge fund manager to exit his investment.

The European Smaller Companies Trust is inviting investors to tender up to 42.5% of the fund’s shares, according to a statement Tuesday. The move came after discussions with Weinstein’s Saba Capital Management, as the trust sought a resolution to a “disruptive” and costly campaign that left the hedge fund its largest shareholder even after losing its initial bid to ...