Neil Woodford’s ‘sorry saga’ finally ends as flagship fund set to be wound up October 15, 2019 Neil Woodford is to be fired from his flagship fund, which will shortly be wound up, the administrator charged with overseeing its frozen assets has announced. Corporate director Link Fund Solutions has written to investors to say it will return their cash as soon as possible from Woodford Investment Management. Read more: Watchdog calls for [...]
RC Brown buys IP Group shares as Woodford offloads stake October 4, 2019 RC Brown has bought up shares being offloaded by Neil Woodford as the fund manager struggles with the crisis that has swept across his investment management firm. RC Brown’s MFM Primary Opportunities fund has purchased shares in intellectual property firm IP Group after Woodford shed his 20 per cent stake last month. Read more: Woodford [...]
Woodford Patient Capital Trust accused of stretching rules on unquoted holdings October 2, 2019 The biggest holding in Neil Woodford’s Patient Capital Trust (WPCT) is listed on an obscure stock exchange where its shares have only been traded once since it listed in February, it has emerged. Investec analysts have questioned whether Rutherford Health should be treated as a listed holding by WPCT, given that its shares have only [...]
Watchdog calls for clearer investor warnings in wake of Woodford saga September 30, 2019 The Financial Conduct Authority (FCA) will introduce tougher rules for funds that invest in hard-to-sell assets following the suspension of Neil Woodford’s flagship fund. In a policy statement published today, the financial regulator also said investors should be given better warnings about the risks they face if they want to be able to withdraw their [...]
Neil Woodford’s role at risk as listed fund suffers £232m loss September 30, 2019 Woodford Patient Capital Trust (WPCT) is considering the position of beleaguered fund manager Neil Woodford after the fund reported a £232m loss and a significant writedown in the value of its portfolio. WPCT said its assets dropped a further 21 per cent in value during the past three months, with chairman Susan Searle describing the [...]
Frozen Woodford fund falls 13 per cent since since June September 23, 2019 Neil Woodford’s frozen flagship Equity Income Fund (EIF) substantially underperformed its industry benchmark in September and will remain under lock and key as expected, the firm managing the suspension said. The fund has dropped 12.83 per cent since its suspension on 3 June, while the benchmark FTSE All Share total return rose 4.29 per cent, [...]
Hargreaves Lansdown founder slams Neil Woodford for not being ‘truthful’ about frozen fund September 22, 2019 One of the founders of Hargreaves Lansdown (HL) has slammed beleaguered asset manager Neil Woodford for apparently not being “truthful” about the performance of his flagship fund in the run up to its suspension. Peter Hargreaves, who founded the financial services firm alongside Stephen Lansdown in 1981, also criticised HL for not having realised that [...]
Benevolent AI’s valuation halves to $1bn in further blow for Neil Woodford September 15, 2019 Benevolent AI, the tech startup backed by troubled stockpicker Neil Woodford, is set to lose half its value as it announces a major new investment. The London-based firm, which is led by former Facebook executive and government minister Baroness Joanna Shields, has secured a cash injection from Singapore sovereign wealth fund Temasek. Read more: Fresh [...]
Woodford Patient Capital Trust share price sinks amid writedown September 13, 2019 Neil Woodford suffered a fresh blow today as shares in his listed investment fund dropped after it was forced into a writedown of the value of a holding. Woodford Patient Capital Trust’s (WPCT) share price sank 3.7 per cent in early trading after administrator Link marked down the unnamed holding. Read more: Woodford Trust and [...]
Woodford loses £43.5m in fire sale from frozen fund September 11, 2019 Beleaguered stock picker Neil Woodford has lost at least £43.5m selling off stocks from his frozen Equity Income Fund, despite having assured investors that the suspension would limit pressure to offload assets at reduced prices. Read more: Woodford crisis wipes £36m off Kent County Council’s stake in flagship fund Woodford lost money on eight out [...]
