The Globe and Mail reports in its Wednesday edition that Artemis Investment Management manages Citadel Income Fund, worth about $33-million, and Energy Income Fund, at about $4-million in market value. The Globe's David Milstead writes that they are terrible performers, and they are expensive for their investors. They have another thing in common: activist investors who are seeking profit by forcing change. The Citadel fund is wrapping up a struggle with Saba Capital Management. Meanwhile, Toronto's Symetryx announced on May 15 it owned 12.2 per cent of the Energy Income Fund, and wanted to engage with management and the board "to enhance unitholder value." The management expense ratios have been rising. Citadel's MER was 3.12 per cent in 2022, while the Energy fund's MER, which has been over 4 per cent since 2018, hit 5.82 per cent in 2021. Saba wants Citadel holders to achieve the value they deserve by winding up the fund. Its attempts to call a unitholder meeting to vote on the windup proposal were unsuccessful. On Sept. 14, Citadel settled with Saba and announced a new offer: It would allow the redemption of 70 per cent of units outstanding. Saba would support and vote for Citadel's new strategic plan.