The chief executive of Britain’s largest fund shop Hargreaves Lansdown has pocketed £2.1m in bonuses despite promising not to take incentives until customers in the former Woodford Equity Income fund were able to access their cash. Hargreaves was criticised for continue to recommend the disgraced manager’s fund, via its prestigious Wealth 50 […]
Woodford
Investors launch case against Hargreaves Lansdown for role in Neil Woodford scandal
Britain’s largest fund shop Hargreaves Lansdown is facing a second legal claim for its part in promoting Neil Woodford’s defunct fund that lost investors millions of pounds. Law firm Slater and Gordon claims there is a case for Hargreaves to answer after it plugged the Woodford Equity Income fund on its Wealth 50 […]
‘We live minutes away from the mansion of the man who lost our money, Neil Woodford’
Struggling B&B owners who lost tens of thousands of pounds investing in Neil Woodford’s failed fund have said living just a three-minute stroll from the disgraced stock picker’s multi-million pound Salcombe home adds “insult to injury”, as hundreds of thousands of investors wait for their money to be returned. Mr Woodford reportedly bought […]
Scale of the discount offered by Woodford fund revealed after American buyer turns a quick profit
The American investment fund that scooped up healthcare stocks from the Woodford Equity Income fund earlier this month has turned a quick profit, highlighting the scale of how cheaply the investments were sold and the problems facing Neil Woodford’s investors. Acacia Research Corporation snapped up £224m worth of biotechnology stocks from the fund in early June […]
Woodford investors suffer 20pc haircut as healthcare stocks sold off
Investors trapped in Neil Woodford’s scandal-ridden fund have received a bittersweet update from administrators who have sold its small and private healthcare stocks but at a significant discount. Days after the first anniversary of the fund’s suspension, Link, the administrator, said it had sold the health companies in the fund for […]
Mark Barnett ditched by Invesco as the curse of Woodford claims another victim
Mark Barnett, one of Britain’s best known fund managers and a protégé of Neil Woodford, has been forced out of Invesco after years of poor returns and disastrous stock picks. Investment manager Invesco said Mr Barnett and the business had “mutually agreed” his departure and he leaves behind more than £5bn of savers’ money across four […]
Hargreaves Lansdown ditches ‘Wealth 50’ best-buy list after Woodford criticism
Hargreaves Lansdown is to scrap its controversial Wealth 50 best-buy list after only 16 months following prolonged criticism over how it picked funds and how slow it was to offload them following the Neil Woodford scandal. It will replace it with a new Wealth Shortlist, chosen by an independent panel, and […]