Woodford Concerns

talexuser

The Borisgraph today highlights an irony concerning those platforms and advisers that take their fees by selling your units, rather than having a cash account. Since they have been stopped from selling Woodford, they have to sell your more profitable funds to cover fees. So advisers who advised you to invest in Woodford are selling your more profitable funds to cover their running costs of advsing you to buy Woodford!

2010

https://www.dailymail.co.uk/money/investing/article-7565911/Theres-time-right-thing-Neil-write-open-letter-Woodford.html

talexuser

2010 wrote: »

https://www.dailymail.co.uk/money/investing/article-7565911/Theres-time-right-thing-Neil-write-open-letter-Woodford.html

"The point of this letter is not to criticise or embarrass you"

you could have fooled me.

Johnnyboy11

Woodford Equity Income to be wound up


https://www.investmentweek.co.uk/news/4005915/woodford-equity-income-wound

Brian65

2010 wrote: »

https://www.dailymail.co.uk/money/investing/article-7565911/Theres-time-right-thing-Neil-write-open-letter-Woodford.html

Says thousands of Daily Mail readers are invested in Woodford. Does that mean the Daily Mail was promoting Woodford too?

webjaved

Brian65 wrote: »

Says thousands of Daily Mail readers are invested in Woodford. Does that mean the Daily Mail was promoting Woodford too?

They could have.

Moe_The_Bartender

Reported that Woodford has been sacked and his Equity Income Fund to be wound up in January.

Hubris is a !!!!!.

bowlhead99

The Link investor letter has more detail than the article:
https://woodford.linkfundsolutions.co.uk/media/yr2dbqm2/15th-october-2019-investor-letter-regarding-the-winding-up-of-the-lf-woodford-equity-income-fund.pdf

Prior to the winding up process starting, BlackRock will take over the process to dispose of the listed assets and gradually move them into a mixture of cash and FTSE index products so that investors are not entirely out of the market while waiting for the cash.

Malthusian

Well, who saw that coming.

Brian65 wrote: »

Says thousands of Daily Mail readers are invested in Woodford. Does that mean the Daily Mail was promoting Woodford too?

Only if you count lazily regurgitated press releases as promotion. There will be thousands of readers of every broadsheet invested in Woodford. That's what a huge marketing operation and a tie-up with Hardcheese Pantsdown gets you.

brewerdave

Malthusian wrote: »

There will be thousands of readers of every broadsheet invested in Woodford. That's what a huge marketing operation and a tie-up with Hardcheese Pantsdown gets you.

Including me and my OH:( Sitting on a loss of ~ £8500 in SIPPs and ISAs on direct investments with Woodford Equity Income ( and an unknown amount in various composite funds). Haven't heard of any moves on the Woodford Income Focus fund. Is that still being managed by him??