Neil Woodford’s spectacular fall from grace has not negatively impacted Venture Capital Trust (VCT) fundraising, figures from Wealth Club show.
ASI Income Focus fund, previously named Woodford Income Focus, re-opens tomorrow (13 February 2020), with investors able to either buy or sell from midday today (12 February 2020).
In the latest Funds Fan episode, host Kyle Caldwell, deputy editor of Money Observer, examines topics including the Woodford payouts and Nick Train with guests Tom Becket, chief investment officer of Punter Southall Wealth, and Tom Bailey, staff writer at Money Observer. The podcast also tackles a reader’s question on the coronavirus, while interactive investor’s Teodor Dilov names his fund of the week.
Funds Fan is a podcast brought to you by interactive investor in partnership with Money Observer magazine and Moneywise magazine. Listen here:
Investors in the LF Woodford Equity Income fund have had a first indication of the sizeable capital losses they will stomach, following the announcement of the fund’s first capital distribution.
I'm looking for guidance on how the winding up of LF Woodford Equity Income should be treated for tax purposes. I expect that this might be a subject that quite a few of your readers will also need to understand.
Let's suppose I paid 120p for some units, and I receive 60p for each of those units from the January payment, and the estimated total payments will eventually be 85p per unit. Would I, for this tax year:
Terry Smith has vowed to not commit the cardinal sin that ultimately led to the downfall of Neil Woodford – changing the way he invests.
The fate of Neil Woodford’s other open-ended fund has been decided, with Aberdeen Standard Investments appointed to manage the LF Woodford Income Focus fund.
Thomas Moore and Charles Luke will manage the £268 million fund, which was suspended on 15 October following the resignation and subsequent swift closure of Woodford Investment Management.
Investors stuck in Neil Woodford’s Equity Income fund are due to start receiving money back in January, according to a letter to investors from Link Fund Solutions.
Investors trapped in the beleaguered Woodford Equity Income fund were hoping that the shuttered fund might reopen in December and they could get their money back. But instead of a Christmas miracle, they’re getting a lump of coal in their stocking, with heavy losses likely as the fund is wound up.
This case has shocked the fund management industry, and raises the question of whether funds should face bank-style stress tests to make sure they can meet redemption requests in falling markets.
We have charted the sorry progress of Neil Woodford and his stable of funds since the suspension of the flagship Woodford Equity Income fund back in June; it’s a train of events with far-reaching implications for the fund industry.