Fresh blow for Woodford investors as biotech sell-off fails February 9, 2020 Investors in the failed flagship fund of Neil Woodford are facing a further blow after a £550m deal to rescue a portfolio of his stakes in biotech startups collapsed, raising concerns the holdings will be offloaded in a fire sale. WG Partners, a boutique investment bank specialising in life sciences, had been trying to assemble [...]
Investors in Neil Woodford’s frozen flagship fund get first payout January 28, 2020 Hundreds of thousands of investors trapped in the flagship fund of disgraced stockpicker Neil Woodford are facing steep losses, as details emerge of the first payout since the fund was gated in June. Initial payments of between 46.3p and 58.9p per share will be made to investors, administrator Link Fund Solutions said in an update [...]
Liquidity concerns mount as investors pull £1bn from Mark Barnett’s Invesco funds January 22, 2020 Investors pulled at least £1bn from Invesco funds managed by Mark Barnett in the final quarter of 2019 amid mounting concerns over liquidity following the collapse of Neil Woodford’s investment empire. Estimates from financial data provider Morningstar suggest the three funds managed by Barnett — Invesco Income, High Income, and UK Strategic Income — suffered [...]
Neil Woodford and partner bagged £13.8m in year before empire collapsed January 7, 2020 Neil Woodford and his partner Craig Newman were paid almost £14m in dividends in the year leading up to the fund crisis that ultimately brought down their company. For the year ending 31 March 2019, Woodford Investment Management’s profit more than halved, falling from £33.7m to £16.3m, according to accounts submitted to Companies House. Read [...]
Timetable set for Neil Woodford fund repayments December 13, 2019 Administrators have finalised details for the winding up of Neil Woodford’s Equity Income Fund (WEIF), the suspension of which triggered a scandal that led to the collapse of his investment empire. In a letter to investors today, Link Fund Solutions said the process of winding up the fund will begin on 18 January. The final [...]
Neil Woodford shuts offices as investment business winds down December 10, 2019 Neil Woodford’s investment company has moved out of its Oxfordshire offices as the business continues the process of closing down. Former star stockpicker Woodford announced that he was shutting down Woodford Investment Management in October, following a dramatic fall from grace that had seen his flagship fund frozen for several months. Read more: City regulator [...]
Rivals blast Hargreaves Lansdown for transfer delays in wake of Woodford saga November 22, 2019 Hargreaves Lansdown has come under fire from rivals after it emerged customers are being forced to wait up to three months to transfer their assets to other investment platforms in the wake of the collapse of Neil Woodford’s investment empire. Five of the fund supermarket’s competitors told City A.M. that waiting times for customers transferring [...]
Woodford protege Mark Barnett hit by Morningstar downgrades on two funds November 7, 2019 Two Invesco funds run by a protege of disgraced stockpicker Neil Woodford have been hit by Morningstar downgrades over their exposure to smaller and illiquid companies. The financial research firm downgraded Invesco’s High Income and Income funds – which are both managed by Mark Bartnett – to a “neutral” rating. Read more: Cautious investors drag [...]
Suspended Woodford fund outperforms FTSE benchmark October 30, 2019 Former star fund manager Neil Woodford’s suspended Income Focus Fund has outperformed the FTSE all-share benchmark in the two weeks since it was frozen. In a letter to investors this morning, Link Fund Solutions – which is managing the suspension – revealed that the fund’s returns had grown 1.39 per cent, while its benchmark return [...]
Keep retail investors in separate funds, says FCA head October 28, 2019 Retail investors could have their money separated from institutional funds to better protect individuals following the collapse of Neil Woodford’s investment empire, the head of the financial regulator has said. Financial Conduct Authority (FCA) chief executive Andrew Bailey said in an interview with The Times that he did not think the mixing of institutional and [...]