Woodford Equity Income - I really don't get today's drop?

redux

This article says Woodford has been listing some of his holdings in Guernsey, in order to comply with FCA rules about no more than 10% unquoted in a fund.

https://citywire.co.uk/investment-trust-insider/news/revealed-woodford-lists-unquoted-stakes-offshore-to-stay-below-limit/a1216022

redux

redux wrote: »

This article says Woodford has been listing some of his holdings in Guernsey, in order to comply with FCA rules about no more than 10% unquoted in a fund.

https://citywire.co.uk/investment-trust-insider/news/revealed-woodford-lists-unquoted-stakes-offshore-to-stay-below-limit/a1216022

Hmmm, Guernsey has suspended these

https://citywire.co.uk/investment-trust-insider/news/woodford-rocked-as-guernsey-suspends-his-unquoted-stocks/a1220449

OldMusicGuy

short_butt_sweet wrote: »

more seriously: you need to read the prospectus (or other documents) describing how the funds are supposed to be run, if you want to assess whether he's done what he said he'd do. (this is something i haven't done.) you can't infer it all from the names.

That's exactly what I did when I invested in the Income Focus fund. It was when he started contravening his own strategy that I bailed out (and initial returns were only ok-ish). When I saw he was getting suckered into buying stocks of companies that have a flawed business model and dubious reporting practices that was when I realised I was wasting my money paying a premium for his managed fund.

He's in big trouble IMO.