Neil Woodford apologises for mistakes as former star stockpicker prepares to launch comeback February 14, 2021 Neil Woodford, the scandal-hit investment manager, has apologised for his role in the failure of his flagship fund, as he prepared to launch his comeback. Woodford, whose business collapsed in October 2019, said he was “very sorry” for what he did wrong, but hit out at the actions of administrator Link Fund Solutions. The former [...]
Investors in collapsed Woodford fund set for £100m payout November 30, 2020 Investors trapped in Neil Woodford’s collapsed flagship fund are set to share a payout of just under £100m by the end of the year. In a letter today fund administrator Link said it has raised a further £98m after selling off more parts of the portfolio’s assets. It said investors will be paid on or [...]
First Woodford court battle could come this year October 26, 2020 The first of what could be many legal claims relating to the collapse of the Woodford Equity Income fund is expected to be launched by the end of the year, reports emerged today. London laywers Harcus Parker are co-ordinating a class action lawsuit and are believed to be ‘further down the track’ than rivals in [...]
Investors stuck in Woodford fund face further repayment delays September 30, 2020 Investors stuck in Neil Woodford’s collapsed flagship fund have been dealt a further blow as administrator Link was today unable to reveal when the wind-up will be completed. Today Link warned that some of the remaining assets, which are currently worth £288m, will not be released until mid to late next year. So far £2.45bn [...]
Neil Woodford investors to share £141.7m payout March 12, 2020 Investors in Neil Woodford’s former flagship fund are in line to share a £141.7m payout as the liquidation of its assets continues. The capital distribution is the second since the process to wind up the Woodford Equity Income Fund (WEIF) began earlier this year. In January around £2.1bn was handed back to the 300,000 investors [...]
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 [...]