Woodford Concerns

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??

Brian65

Malthusian wrote: »

Well, who saw that coming.



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.

When did the Daily Mail become a broadsheet?

Brian65

bowlhead99 wrote: »

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.

So basically the plan has changed. Because Woodford has been fired. Because he was spinning the job out claiming more fees.

Malthusian

Brian65 wrote: »

When did the Daily Mail become a broadsheet?

Good point, although it was a broadsheet until 1971, and as most "broadsheets" have now converted to tabloid / Berliner format, the distinction is now purely one of class rather than format.

I was grouping the Mail with other papers whose readerships might stereotypically be expected to have enough money and enough financial awareness to invest in Woodford (though not enough to not invest in him). The Times, Torygraph, Grauniad, Indy, FT, etc.

eskbanker

It is a bit broad for its most useful purpose, for which there is an alternative of narrower sheets in perforated rolls....

Moe_The_Bartender

And Woody's view on the winding up:


“This was Link’s decision and one I cannot accept, nor believe is in the long-term interests of LF Woodford Equity Income Fund investors.”

Speechless.