Boaz Weinstein, the hedge fund investor on the winning side of JPMorgan Chase's $6.2 billion, "London Whale" trading loss in 2011, is now taking on index fund giant BlackRock .
The hedge fund wants board control at three BlackRock funds and a minority slate at seven others.
BlackRock, Saba says in the deck, "considers itself a leader in governance, but is crushing shareholder rights."
At certain BlackRock funds, for example, if an investor doesn't submit their vote in a shareholder meeting, their shares will automatically go to support BlackRock.
The index fund manager's rebuttal, "Defend Your Fund," describes Saba as an activist hedge fund seeking to "enrich itself."
Persons:
Boaz Weinstein, Saba, Weinstein, doesn't
Organizations:
Saba Capital Management, Bloomberg, JPMorgan Chase's, Weinstein's, CNBC, BlackRock, affirmatively
Locations:
New York, BlackRock, Weinstein's Saba, Saba