It was only a matter of time. So Friday’s announcement that fund manager Mark Barnett – dubbed ‘Son of Woodford’ – had left investment house Invesco by ‘mutual’ consent hardly took financial experts by surprise. Speaking to a number of investment advisers on Friday, the consensus view was that he should have been jettisoned by … Read more
Neil Woodford protege Mark Barnett is fired from Invesco Perpetual after 24 years By Daily Mail City & Finance Reporter Published: 21:50 BST, 15 May 2020 | Updated: 21:50 BST, 15 May 2020 Mark Barnett, the one-time protege of fallen fund manager Neil Woodford, has been fired from Invesco Perpetual. In a dramatic fall from … Read more
Mark Barnett: Ousted from Invesco Invesco has ousted fallen star manager Mark Barnett citing ‘disappointing performance’, after his flagship funds floundered during Brexit and the Covid-19 crisis. The exit of Barnett – a former protege of disgraced investor Neil Woodford – is accompanied by a shake-up of Invesco Perpetual’s UK equity team and fund portfolio. … Read more
Legal fight looms over Hargreaves Lansdown’s role in Woodford fund RGL Management is edging closer to launching a group legal claim against HL The claim is against HL’s promotion of Woodford Equity Income ahead of its closure in June last year It believes investors who bought the fund were not fully informed of the risks … Read more
The cult of personality in fund management is relatively new. The people managing our assets historically were hidden in the back rooms of big investment firms, subservient to the star dealmakers and traders. Perhaps inevitably in an age of celebrity, those who put up the best performances emerged from the shadows essentially as a marketing … Read more
Woodford investors face a further agonising 10-day wait for what’s left of their savings as ruined fund delays payouts The first payouts are now due to start on 30 January Investors will be told the amount they will get around 28 January 2020 The equity income fund has lost 15% since investors were locked in … Read more
Woodford management firm ‘let savers down’ by failing to raise alarm earlier, says former City minister By Daily Mail City & Finance Reporter Published: 21:50 BST, 13 January 2020 | Updated: 21:50 BST, 13 January 2020 The fund services business which oversaw Neil Woodford’s doomed investment empire is under fire for failing to adequately protect … Read more
More than £730m wiped off value of Hargreaves Lansdown as Neil Woodford scandal hung over firm By Daily Mail City & Finance Reporter Published: 21:48 BST, 31 January 2020 | Updated: 10:01 BST, 1 February 2020 More than £730million was wiped off the value of Hargreaves Lansdown as the Woodford scandal hung over the firm. … Read more
The worst investment performer in the latest notorious list of ‘dog funds’ is, unsurprisingly, Neil Woodford’s doomed equity income fund. The fallen star manager’s two former Invesco Perpetual funds are also named and shamed among the ‘biggest beasts’ – the poor performers holding the largest sums of customer money – in Bestinvest’s Spot the Dog … Read more
Most savers with direct or indirect holdings in funds run by Neil Woodford are nursing nasty losses. It is worse than that. Investors in two of the firms that promoted the Woodford cult – investor platform Hargreaves Lansdown (HL) and advisers St James’s Place – have had a nasty shock. Not everyone is a loser. … Read more