The LF Woodford Equity Income fund had 85% of its net asset value (NAV) invested in illiquid securities, both listed and unlisted, and as a result would have had to have suspended trading even if it had offloaded all of its unlisted holdings, according to index and data provider MSCI.
Dealing in the fund, run by Neil Woodford, was suspended on 3 June as it ran into serious liquidity issues after continued mass outflows. The fund shrank in size from over £10bn in April 2017 to just £3.7bn...
To offer equity and multi asset funds
Square Mile's series of informal interviews
Follows active fee cuts in June
New shares admitted to London Stock Exchange
Mixed industry reaction to new appointment
Britons will head to the polls today for the nation’s third general election in less than five years.
Adviser recommended products before death
Postcard Planning and NextGen Planners’ Rohan Sivajoti talks to Hannah Godfrey about how his experience in financial services as an ethnic minority differs from his fathers’, who worked in the sector some 40 years ago...
And mortgage lending