Bailey Gifford posts new performance data every time the activist spits up.

LONDON (Reuters) – Baillie Giffords, a U.S. growth trust, released new data on Tuesday to show that it outperformed the S&P 500 index in the six months to Nov. 30, fighting U.S. activist Saba Capital’s plan to move its board.

The company’s share price and net asset value returned 40.9% and 29.4%, respectively, after deducting loans at fair value, according to Bally Giffords’ response to Saba’s continued underperformance.

That compares with a 15.3% return for the S&P 500Index in sterling, Saba dismissed as a “self-serving and destructive” attempt to take over the company to put two candidates on the board.

Saba, which was founded and is chaired by veteran Wall Street activist Boaz Weinstein, said last month it wanted to overhaul its seven-member board of trustees, whose ratings ranged from “worrisome” to “dangerous.”

Weinstein said critics of the plan were misleading investors who lost “huge value.”

He took aim at Baillie Gifford as well as Henderson Opportunities Trust, European Small Companies Trust, CQS Natural Resources Growth and Income, Edinburgh International Investment Trust, Herald Investment Trust and Keystone Positive Change (KPC).

Since 2013 through November 30, Bailey Gifford’s stock price and NAV have returned 169.7% and 186.1%, respectively, compared to a total price increase of 190.5%, after deducting fair value loans.

KPC said on Tuesday that Glass Louis (JO:) An independent proxy advisor was recommending that shareholders vote against Sabah’s proposals at the February 3rd meeting.

Glass Lewis cited a “lack of detail” and said Sabah’s campaign was “more about giving shareholders a timely and specific exit to influence,” KPC said.