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 [...]
M&G Investments rejects hostile takeover of Provident Financial May 28, 2019 M&G Investments has announced that it will reject a hostile takeover of Provident Financial by rival sub-prime lender Non-Standard Finance. The investment firm, which owns 1.7 per cent of Provident’s stock, has joined Schroders and Coltrane in confirming it will refuse to back the deal. Read more: Non-Standard Finance confident of watchdog support for £1.3bn [...]
Analysts downgrade Neil Woodford flagship fund due to ‘underperformance’ May 20, 2019 Analysts at Morningstar have downgraded veteran investor Neil Woodford’s flagship fund due to underperformance. Woodford Equity Income fund’s rating was lowered from bronze to neutral, which is the research group’s second lowest ranking, following “persistent” redemption requests as investors exit. Read more: Fund manager Neil Woodford doubles stake in Card Factory The fund, which was [...]
Schroders stands firm against Non-Standard Finance’s hostile takeover of Provident May 19, 2019 A major Provident shareholder has stood firm against a £1.3bn hostile takeover bid delivering a blow to rival subprime lender Non-Standard Finance’s hopes of gaining more support. NSF decided to plough ahead with its takeover last week with support from investors holding 53.53 per cent of Provident shares. The doorstep lender dropped its own target [...]