Woodford anyone?
Discussion
ferrisbueller said:
Mattt said:
I think people are in for a shock if they think when the fund re-opens that it’s value will be anything like what it was pre-suspension.
I think it will turn into a huge national scandal...
The run when it reopens as people look to exit asap will kill it, too. I think it will turn into a huge national scandal...
DonkeyApple said:
Would you expect an attempt to repackage and brand the fund ahead of that because of this overt risk?
Can’t see that working while it still has his name on it. Could they issue bonds in some way to raise the cash to buy his illiquid holdings from the fund?
I suspect that would benefit the fund’s investors but just cost Woodford good money after bad.
Condi said:
darreni said:
The fund is still being priced daily so investors can see the price change.
Down about 12% from when it was suspended. I think there’s a lot more to come than 12% fall...
DonkeyApple said:
ferrisbueller said:
Mattt said:
I think people are in for a shock if they think when the fund re-opens that it’s value will be anything like what it was pre-suspension.
I think it will turn into a huge national scandal...
The run when it reopens as people look to exit asap will kill it, too. I think it will turn into a huge national scandal...
Helicopter123 said:
You wonder where the PPI claims people will look next...
I can't see how people can make a claim on a bad investment, not that it will stop them trying, I'm sure.Woodford went off script a while ago and it seems no-one really noticed it becoming an issue until there was a significant s
t/fan interface.I've got approx 15k of Woodfraud in my ISA. WF is one of approx 30 funds within my ISA which is with a company / IFAs. If I was to transfer the whole of my ISA to another company (Intelligent Money for example), what happens to the 5% of WF? Surely if it can't be sold it also can't be transferred out?
It's bloody typical.. this year I've tried to pay more attention to investing than previous years, and thanks to Julian and others on PH I have realised the under-performance of my investments (Adventurous portfolio) is down to paying high (circa 2%) fees. So.. I start looking into moving to a low-cost fund/portfolio and all this ^^^ jazz happens. I feel a bit tied in until WF trading resumes
It's bloody typical.. this year I've tried to pay more attention to investing than previous years, and thanks to Julian and others on PH I have realised the under-performance of my investments (Adventurous portfolio) is down to paying high (circa 2%) fees. So.. I start looking into moving to a low-cost fund/portfolio and all this ^^^ jazz happens. I feel a bit tied in until WF trading resumes
Mattt said:
You can transfer out everything but Woodford
You can transfer Woodford according to this:https://www.investorschronicle.co.uk/funds-etfs/20...
Just to clarify, Phooey did indeed have a very detailed conversation with me yesterday about many things, Woodford included.
You can transfer most share classes to another platform (though usually not the share class used by HL).
Phooey is not with HL, so he has two options with IM:
1) Move everything apart from Woodford to us in cash, leaving Woodford where it is until he can move this over as cash.
2) Move everything over as cash and move Woodford over to us in specie where we will hold it (to reduce costs) ourselves until he can access this money.
After receiving the instruction (either way) IM will do the rest without Phooey having to lift a finger.
Of course he can also stay exactly where he is or move to someone else. We have spoken in depth about these options too.
I trust that clears things up.
You can transfer most share classes to another platform (though usually not the share class used by HL).
Phooey is not with HL, so he has two options with IM:
1) Move everything apart from Woodford to us in cash, leaving Woodford where it is until he can move this over as cash.
2) Move everything over as cash and move Woodford over to us in specie where we will hold it (to reduce costs) ourselves until he can access this money.
After receiving the instruction (either way) IM will do the rest without Phooey having to lift a finger.
Of course he can also stay exactly where he is or move to someone else. We have spoken in depth about these options too.
I trust that clears things up.
PF62 said:
rockin said:
Ah, who can forget that game for boring journeys on the motorway - "Stobbies and Nobbies". Only two people can play - one chooses Stobbies and the other gets Nobbies.
"Yellow car"Timely.... from BBC:
Well-known stockpicker Neil Woodford's flagship fund is to be wound up, its corporate director Link Fund Solutions has announced.
However, investors will not get any money back until mid-January at the earliest.
Withdrawals from the Woodford Equity Income Fund have been frozen since early June.
The move came after rising numbers of investors asked for their money to be returned to them.
Well-known stockpicker Neil Woodford's flagship fund is to be wound up, its corporate director Link Fund Solutions has announced.
However, investors will not get any money back until mid-January at the earliest.
Withdrawals from the Woodford Equity Income Fund have been frozen since early June.
The move came after rising numbers of investors asked for their money to be returned to them.
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