Baillie Gifford, the Edinburgh-headquartered fund group, has urged shareholders in a trio of investment trusts it manages to vote against proposals by US hedge fund Saba Capital Management to sack their boards.

New York-based Saba has built significant stakes of between 21.1% and 28.1% in the Baillie Gifford US Growth, Edinburgh Worldwide Investment and Baillie Gifford Keystone Positive Change investment trusts.