Woodford Concerns

aroominyork

Also, on the day Morningstar reports that the WPCT Board is considering ditching Woodford and taking on another manager (and possibly changing the Trust's name...) the share price fell another 4%. So on the buy-side, it's now at about a 35% discount to NAV. On the downside, we have little idea what the real NAV actually is.

Jonah01

Hi,

OP here. Just a thought I'd update the thread with what I decided to do.

Ended up going for a vanguard life strategy 60.

I came to the conclusion that I'll never be knowledgeable enough to build my own portfolio that beats something that tracks the markets.

Moe_The_Bartender

And Woody sold £1m of his shares in WPCT three weeks ago without disclosing it to the board. That’s a real vote of confidence.

iglad

Are you sure as Fundsmith wipes the floor with it over 10.5, 3 and 1 year.

iglad

He's out the door, taking his money, let someone take over steady the ship and he's still wins as he has plenty of shares, he cannot lose.

londoninvestor

Moe_The_Bartender wrote: »

And Woody sold £1m of his shares in WPCT three weeks ago without disclosing it to the board. That’s a real vote of confidence.

"To meet personal financial obligations."

He really has no property equity that he can remortgage?

AnotherJoe

ColdIron wrote: »

The pain continues

• Neil Woodford's flagship Woodford Equity Income fund is likely to remain suspended until early December, administrator Link Fund Solutions has said.

https://citywire.co.uk/funds-insider/news/woodford-fund-freeze-extended-to-december/a1254274

Pah. Its going to be wound up. They have no alternative.

iglad

AnotherJoe wrote: »

Pah. Its going to be wound up. They have no alternative.

No it will not be wound up, they'll appoint another company to run the fund.

masonic

iglad wrote: »

No it will not be wound up, they'll appoint another company to run the fund.

How will it make economic sense to continue to run the fund when everyone has sold out of it?

Moe_The_Bartender

An orderly wind down is the only logical outcome. The Woodford brand is toxic and even if he were to dispose of all his questionable investments and invest exclusively in blue chips, there will still be a rush for the door if and when it reopens. Better to liquidate everything and return the proceeds to investors.