LONDON, Feb 10 (Reuters) - Saba Capital Management has

added more UK investment trusts to its activist campaign and

plans to further shake up the sector, the hedge fund's founder

Boaz Weinstein told the LSE Alternative Investments Conference

on Monday.

Saba is waging a campaign to overhaul seven British

investment trusts over performances it has said ranged from

"underwhelming" to "disastrous".

Weinstein on Monday said he now plans to call general

meetings in four UK investment trusts to vote on whether they

should transition from a closed ended structure to a comparable

open-ended one, where shares can be issued and redeemed at any

time.

"If investors want to stay in the investment trust, good for

them, but investors should have the option," said Weinstein.

The four funds include: CQS Natural Resources Growth &

Income PLC, European Smaller Companies Trust PLC ( TEUUF )

, Middlefield Canadian Income and Schroder UK

Mid Cap Fund.

Richard Stone, chief executive of the Association of

Investment Companies (AIC), said that Saba's proposals on Monday

marked a significant shift in strategy for the hedge fund but

that more detail on how these funds would change their structure

was needed.

Shareholders would remain invested in the same strategy with

the same manager, but in an open ended fund, said Weinstein.

Weinstein said that since he launched his UK campaign in

2024, his campaign related fund had seen record inflows. Saba

Capital Management oversees several different strategies,

including activism.

With the new investor money, Weinstein said he would

continue to add to his current UK activist campaign.

The trusts have publicly hit back in recent weeks, dubbing

Saba's campaign opportunistic and not in the interests of

broader shareholders.

Six of the seven trusts' shareholders have voted against

Weinstein's proposals which have ranged from buying investors

out of the funds to board overhauls. The last of seven UK

investment trusts targeted by Saba's activist campaign, -

Edinburgh Worldwide - votes on Friday.