LONDON, Jan 21 (Reuters) - Baillie Gifford U.S. Growth

Trust, battling plans by U.S. activist Saba Capital to

shake up its board, unveiled fresh data on Tuesday to show it

had outperformed the S&P 500 Index in sterling terms in the six

months to Nov. 30.

In response to Saba's allegations of consistent

underperformance, Baillie Gifford said the company's share price

and net asset value returned 40.9% and 29.4% respectively over

the period, after deducting borrowings at fair value.

This compared with a total return of 15.3% for the S&P 500

Index in sterling terms, it said, dismissing Saba's proposals to

place two of its own nominees on the board as a "self-serving

and destructive" attempt to assume control of the company.

Saba, founded and run by Wall Street veteran activist

investor Boaz Weinstein, said last month it wanted to overhaul

the boards of seven trusts over performances it said ranged from

"underwhelming" to "disastrous".

Weinstein has said critics of his plans were misleading

investors who have lost "enormous value".

He has taken aim at Baillie Gifford as well as Henderson

Opportunities Trust, the European Smaller Companies Trust ( TEUUF )

, CQS Natural Resources Growth & Income,

Edinburgh Worldwide Investment Trust ( EWIIF ), Herald Investment

Trust ( HDVXF ) and Keystone Positive Change (KPC).

From its 2013 launch to Nov. 30, Baillie Gifford's share

price and NAV returned 169.7% and 186.1% respectively, compared

with a total return of 190.5% for the S&P 500 index in sterling

terms, after deducting borrowings at fair value.

KPC also noted on Tuesday that Glass Lewis, the

independent proxy advisor, was recommending that shareholders

vote against Saba's proposals at a meeting on Feb. 3.

Glass Lewis had referred to a "lack of detail" and said

Saba's campaign was "more about obtaining influence than it is

about offering shareholders a timely and certain exit", KPC

said.