Woodford Equity Income under scrutiny as AUM drops further - reports

Draws attention of FCA

clock • 1 min read

Woodford Equity Income has seen its total assets fall by £560m to below £3.8bn in less than four weeks as investors exit Neil Woodford's flagship fund amid a sustained period of poor performance.

The rapidly shrinking fund, which has fallen by around two-thirds from its 2017 AUM peak of £10.2bn, has drawn the attention of investment heavyweights and regulators alike, according to the Financial Times. The £187m of withdrawals since the end of April primarily follow Morningstar's decision to downgrade the fund from "bronze" to "neutral" last week, with May becoming the 23rd consecutive month of redemptions. Woodford to cut unquoted holdings in £4.3bn Equity Income fund to zero About £373m of the monthly decline is attributed to the weak trading performance of the fund's under...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on UK

UK businesses to pay four times more for electricity than in 2020
UK

UK businesses to pay four times more for electricity than in 2020

Calls for Covid-style support for energy bills

clock 25 August 2022 • 1 min read
UK

IA Global sector enjoys record £934m sales in April

Reduced UK outflows

Sam Shaw
clock 06 June 2019 • 2 min read
UK

Dan Kemp: What UK investors can learn from the Champions League

Set new goals

Dan Kemp
clock 31 May 2019 • 3 min read