SJP unlikely to dump the Woodford gravy train
The partnership between St James’s Place and Neil Woodford is unlikely to end any time soon, despite many discretionary fund managers and platforms dropping the star fund manager for underperformance.
The partnership between St James’s Place and Neil Woodford is unlikely to end any time soon, despite many discretionary fund managers and platforms dropping the star fund manager for underperformance.
Tilney has ditched Neil Woodford’s flagship fund from its buy list due to performance and liquidity concerns, echoing sentiment from other platforms that have dropped the UK equities manager.
Charles Stanley Direct has booted Woodford Equity Income from its preferred funds list on concerns about its exposure to early stage companies.
Below-consensus UK GDP growth of 0.1% has caught the City off guard and thrown bullish predictions from the likes of Neil Woodford and Richard Buxton into question.
Woodford Patient Capital Trust’s holdings in companies in which its independent directors, including its chairwoman, hold senior positions has raised eyebrows with investors, as they highlight concerns about the board’s ability to act in shareholders’ best interests.
Woodford Investment Management has admitted it failed to disclose increases to its Raven Russia holding made over the last year, as it continues to add to the investment company in the wake of US sanctions against Russia.
Richard Buxton has echoed the views of Neil Woodford in his outlook for the UK economy pointing to corporate deals as a sign of value and predicting GDP growth will be higher than expected in 2018.
Abaco Capital, a pharmaceutical company majority-owned by Neil Woodford, has announced its intention to cease trading on the Aim exchange and enter voluntary liquidation after failing to make a mandatory takeover bid.
Invesco Perpetual is expected to cut its 44% stake in AJ Bell, alongside second-largest shareholder Andy Bell, to make it easier for smaller investors to get in on the firm’s IPO.
Neil Woodford has told investors the UK is set to become the fastest-growing economy in the Organisation for Economic Co-operation and Development (OECD) by the end of 2018 as he notes institutional investors remain underinvested in the country post Brexit.
Investors in Neil Woodford’s flagship equity income fund have now lost money over the last three years, as 2018 brings more hardships for one of the UK’s favourite star managers.
Neil Woodford has defended his UK Equity Income fund’s strategy, saying it remains in the best interests of investors despite being kicked out of the Investment Association’s UK Equity Income sector.