Woodford Concerns

MK62

arnoldy wrote: »

But that's exactly why holders of HL MM with big WEIF exposure will run to certainty and sell.

I would urge anyone contemplating that to contact HL first and ask them exactly what will happen......it may not be quite as simple as "run to certainty and sell".

dividendhero

arnoldy wrote: »

Thanks for the origin of the 10% rule. Does that mean that some of the Hargreaves Landsdown Multi Manager Funds are now in breach of the directives? If so how can they continue trading on Monday. How can the FCA allow new investors to buy into the HL MM funds affected

.

Woodford was suspended last monday and HL MM Inc & Grwth has been trading since without any exit penalties. You would tend to think HL's own legal and compliance team know their stuff and haven't indulged in some kind of Woodfordesque escaplogy..so me thinks the HL MM range is fully compliant and solvent and a much bigger company than Wooodford's little outfit are behind it :money:

JSmith321

Just as an aside, could the HL executives be accused of insider trading (by the FCA) by virtue of the share sell off they engaged in shortly before the Woodford debacle.

dividendhero

arnoldy wrote: »

He's been stepping sideways around the rules for some time, such as all the swaps and the Guernsey listing. Would Invesco Perpetual, later just Invesco, have indulged such stunts?

Very much doubt it - none of their funds are much into non listed assets so no need for them to do it. As far as I'm aware Woodford is the first, and probably last to try this ruse

arnoldy

MK62 wrote: »

I would urge anyone contemplating that to contact HL first and ask them exactly what will happen......it may not be quite as simple as "run to certainty and sell".

Yes good advice. But I'm struggling for any Logic for NOT selling the HL MM funds where they have one seventh and possibly/probably rising exposed to the falling knife of the WEIF.

You don't want to be one of the last ones left on the ship if real panic sets in.

BTW I'm not sure I'd put too much credence in HL words. Not after the Woodford/HL/Link Solutions revalations (read the Times today).

dividendhero

Has this been dubbed "Woodgate" by the press yet or can I claim the credit

MaxiRobriguez

At what point does WPC become a viable investment despite/considering possibility of contagion? Price at ~75% of NAV currently.

2010

https://www.theguardian.com/business/2019/jun/08/neil-woodford-fund-manager-rise-and-fall-investors-bright-star-black-hole

AnotherJoe

MaxiRobriguez wrote: »

At what point does WPC become a viable investment despite/considering possibility of contagion? Price at ~75% of NAV currently.

If Industrial Heat can be valued at £110M why would you believe the valuation of anything else made by the same jokers ?

cogito

2010 wrote: »

https://www.theguardian.com/business/2019/jun/08/neil-woodford-fund-manager-rise-and-fall-investors-bright-star-black-hole

Seen the comment by James M? He needs to get his money out to pay for his wedding in August. It doesn’t seem to have occurred to him that he shouldn’t have been in stocks and shares.