Bank of England to probe risks of Woodford-style funds July 11, 2019 The Bank of England will investigate the potential risks of funds like beleaguered trader Neil Woodford’s suspended investment vehicle. Fund managers are currently able to offer investors daily liquidity when their savings are actually tied up in illiquid and unquoted stocks, which are difficult to transfer quickly into cash. Read more: Woodford loses employees as [...]
Woodford loses trusted employees as fund suspension continues July 11, 2019 Neil Woodford’s investment company has started to lose top employees as a round of redundancies, sparked by the suspension of its flagship fund, begins to bite. Will Deer, the former head of institutional sales, has been made redundant, the company confirmed today. Read more: Woodford lifts block on investors switching from Hargreaves Lansdown Deer had [...]
Woodford lifts block on investors switching from Hargreaves Lansdown July 10, 2019 Investors who found themselves locked into both Neil Woodford’s suspended fund and Hargreaves Lansdown will now be able to switch to a different stockbroker. Thousands of customers were left stranded after Link Fund Solutions, the authorised fund manager, blocked transfers from Hargreaves Lansdown to other platforms. Read more: Woodford investors blocked from switching from Hargreaves [...]
Woodford investors blocked from switching from Hargreaves Lansdown July 9, 2019 Customers that invested in Neil Woodford’s suspended flagship fund through Hargreaves Lansdown have been blocked from switching investment platforms, according to evidence submitted to the Treasury Committee’s inquiry into the scandal. Richard Wilson, chief executive of rival fund supermarket Interactive Investor, said investors had “both hands tied” after Link Fund Solutions, the authorised fund manager, [...]
Fresh trouble for Neil Woodford as Benevolent AI valuation drops July 7, 2019 Beleaguered fund manager Neil Woodford could be facing fresh trouble as one of his biggest bets is reportedly braced to suffer a drop in its valuation. London-based tech firm Benevolent AI is said to be raising money at a level well below its $2bn (£1.6bn) valuation, the Sunday Times reported. Read more: Neil Woodford cuts [...]
Neil Woodford cuts staff numbers as fund suspension continues July 3, 2019 Embattled fund manager Neil Woodford is set to slash staff numbers at his firm’s headquarters following the suspension of his flagship fund. The redundancies are expected to affect a small number of staff at Woodford Investment Management’s Oxford office. Read more: Woodford sells shrimp shares on the stock floor The firm employed around 45 members [...]
Woodford sells shrimp shares on the stock floor July 2, 2019 Neil Woodford has slashed his fund’s stake in Benchmark Holdings, a genetics firm that develops disease-resistant shrimp, offloading £23m of shares as his asset selling spree continues. The stockpicker’s company, Woodford Investment Management, cut its stake in Benchmark from 12.5 per cent to under 2 per cent in a transaction last Friday. Read more: Neil [...]
Neil Woodford keeps flagship fund under lock and key July 1, 2019 Embattled stockpicker Neil Woodford remained defiant last night despite confirmation that his flagship Equity Income Fund will stay frozen for at least another 28 days. Read more: Woodford offloads stake in Raven’s property firm In a new video promoted on social media, Woodford defended his trademark strategy of focusing on “undervalued assets”, saying it “will [...]
Woodford offloads stake in Raven property investment firm July 1, 2019 Embattled stockpicker Neil Woodford has jettisoned his 12 per cent stake in Raven Property Group, bringing the total he has raised since the suspension of his flagship fund to £459m. Raven announced today that it has bought back 72.1m shares from Woodford at 36p per share. Read more: Neil Woodford cuts stake in AI firm [...]
Omnis Investments replaces Woodford with Jupiter Asset Management June 21, 2019 Wealth manager Openwork’s Omnis Investments has chosen Jupiter Asset Management to run a £317m fund that was formally run by Neil Woodford’s firm. Openwork removed Woodford Investment Management from the Omnis Income and Growth fund shortly after Woodford suspended its flagship fund on 3 June. Read more: Hargreaves Lansdown chief executive angered by suspended Woodford [...]