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 [...]
Hargreaves Lansdown chief executive ‘angered’ by suspended Woodford fund June 20, 2019 Hargreaves Lansdown chief executive Chris Hill said he is “angered” by the lack of resolution regarding Neil Woodford’s suspended flagship fund. The fund supermarket’s investors currently have £1.6bn exposed to the suspended Woodford equity income fund. Read more: Woodford failed to warn Hargreaves Lansdown of unquoted stocks breach Since the fund was last tradable on [...]
Woodford failed to warn Hargreaves Lansdown of unquoted stocks breach June 19, 2019 Neil Woodford failed to warn Hargreaves Lansdown that his now suspended fund twice breached an investment limit in unquoted stocks. The fund supermarket had insisted Woodford Investment Management informed it if the equity income fund breached a 10 per cent limit. This followed concerns that the proportion of unquoted assets in the fund had increased. [...]
Patient Capital shares fall as Woodford troubles deepen June 17, 2019 Shares in Neil Woodford’s investment trust fell more than six per cent this morning after it was revealed that it sacked its advisor in a row over risky investment valuations. Woodford Patient Capital’s stock dropped this morning following reports that the listed trust sacked Duff & Phelps last year. Read more: Hargreaves Lansdown raised concerns [...]
Hargreaves Lansdown leads exodus from second Woodford fund June 13, 2019 Hargreaves Lansdown has led an exodus from Neil Woodford’s Income Focus fund adding to the trader’s woes following the suspension of his flagship investment vehicle. Woodford’s Income Focus fund has shrunk by more than £100m in less than two weeks, according to data from Morningstar. Read more: Woodford issues apology to suspended fund investors Assets [...]
Woodford issues apology to suspended fund investors June 12, 2019 Beleaguered trader Neil Woodford has issued a second apology to investors in his frozen £3.7bn fund, saying he had been disappointed with its performance “for some time”. The letter, which was sent to independent financial advisers yesterday, follows the suspension of Woodford’s Equity Income fund last week. Read more: Opening the fund gate: How to [...]
Neil Woodford’s investment trust shares rise after slide triggered by fund suspension June 11, 2019 Neil Woodford’s listed investment trust’s stock rose this morning following a share price slide after the former star trader’s flagship fund was suspended. Shares in Woodford Patient Capital Trust were up more than eight per cent today. Read more: FCA chief Andrew Bailey calls on Woodford to waive management fees The suspension of Woodford’s Equity [...]
Neil Woodford’s flagship fund suspends trading to protect investors June 3, 2019 Veteran investor Neil Woodford's flagship fund has suspended trading after a spike in investor redemptions. Link Fund Solutions, which is the corporate director of the fund, said it was "in the best interests of all investors in the fund to suspend the issue, cancellation, sale, redemption and transfer of shares" in the Woodford Equity Income [...]
Aberdeen Standard opposes Non-Standard Finance’s hostile Provident Financial takeover June 2, 2019 A major shareholder in Provident Financial has come out to publicly oppose rival doorstep lender Non-Standard Finance’s (NSF) hostile takeover bid. Aberdeen Standard Investments, which owns 3.1 per cent of the sub-prime lender, said it would not accept NSF’s offer. Read more: Watchdog probes Non-Standard Finance's hostile takeover of Provident Head of UK equities Andrew [...]
Neil Woodford’s flagship fund drops £560m of assets in four weeks May 30, 2019 Veteran trader Neil Woodford’s flagship fund has lost £560m in assets over the last month following a prolonged period of underperformance. The Woodford equity income fund saw assets fall from £4.33bn in April to £3.77bn this week, according to data from Morningstar Direct. Read more: Analysts downgrade Neil Woodford flagship fund due to 'underperformance' Assets [...]