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 [...]
Shore Capital shares slide on news of proposed AIM cancellation September 26, 2019 Shares in investment group Shore Capital have tumbled over 28 per cent this morning following the news that the company would seek to remove its shares from AIM, as the company reported a significant drop in pre-tax profit. In a statement issued to the stock exchange this morning, Shore said it would seek shareholder approval [...]
Wealth manager Moneyfarm raises £36m in funding round led by Poste Italiane September 26, 2019 Digital wealth manager Moneyfarm has raised £36m in a series C funding round led by Poste Italiane, and has launched a strategic partnership with the Italian postal and financial services firm. The partnership will integrate Moneyfarm’s services with Poste Italiane’s digital platform. The Italian company currently manages over €514 billion across its financial and insurance [...]
Woodford Patient Capital shares slide following fresh writedown September 26, 2019 Shares in embattled stock-picker Neil Woodford’s listed fund have dropped this morning following the news that the valuation of its assets have been lowered. The valuation of three Woodford Patient Capital Trust (WPCT) holdings have been reduced by Link – the firm responsible for independently valuing the portfolio – the firm said in an update [...]
London retains crown as best European city for real estate investment September 25, 2019 London has been ranked as the best European city for long-term commercial real estate investment potential for the third year running, helped by the strength of its tech sector. London was ranked first across five of six categories – inspiration, innovation, interconnection, infrastructure and investment – and was ranked second for the final category, inclusion. [...]
In such volatile times, the safest assets aren’t necessarily what investors think September 25, 2019 Given the climate of intense uncertainty, the FTSE index remains remarkably resilient. It currently sits almost bang in the middle of the 7,000-7,600 range, where it has been since the beginning of January 2017. Brexit does not seem to trouble share prices. Nor do the threats by John McDonnell, Labour’s shadow chancellor, to carry out [...]
Why as an investor I’m looking through Brexit fears September 24, 2019 | City Talk Following the twists and turns in Westminster of the past few weeks I expect many more market participants will simply place UK equities in the “too difficult” basket. Anecdotal stories of overseas investors selling their last UK stocks could start doing the rounds again. Brexit and political uncertainty have been a drag on UK equities, [...]
Investment managers urged to tackle ‘class ceiling’ in finance September 24, 2019 An industry body is calling on investment managers to promote social mobility in their recruitment and retention practices in an attempt to make the industry more representative of people from different classes and socioeconomic backgrounds. In a report published today, the Investment Association (IA) outlines steps employers can take to improve their recruitment processes. These [...]
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, [...]