|Bid||1,912.50 x 22700|
|Ask||1,913.00 x 40000|
|Day's Range||1,877.00 - 1,913.50|
|52 Week Range||1,624.00 - 2,447.00|
|Beta (3Y Monthly)||0.81|
|PE Ratio (TTM)||37.72|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||0.32 (1.43%)|
|1y Target Est||1,810.38|
Critics have said Mr Dampier should reveal whether he had sold down his Woodford fund stakes in recent months due to the central role he played in championing the fund manager to Hargreaves customers, and the high-profile way he spoke of investing in his own money in the fund’s launch. “This is not caught by law, but it is certainly caught by moral imperative,” said Mark Northway, chairman at shareholder rights’ group ShareSoc.
Investment firm Fidelity International said on Tuesday that it has decided to restrict its customers from making new investments in money manager Neil Woodford's Income Focus Fund. The move comes a couple of weeks after Woodford, among Britain's well-known fund managers, suspended his flagship fund, LF Woodford Equity Income fund, due to an increase in redemption requests. "We believe this is in the best interest of our platform clients unless and until uncertainties are resolved and we are not restricting withdrawals from Woodford Income Focus Fund," Fidelity International said in an emailed statement.
Hargreaves Lansdown Chief Executive Officer Chris Hill said on Monday he will forgo a bonus until investors in Neil Woodford's suspended fund, which was backed by the British fund supermarket, have access to their money. "Until investors are able to access their money held with Woodford Equity Income, I will not be taking a bonus," Hill said in an emailed statement. Woodford, among Britain's most famous fund managers, has faced fierce criticism after suspending his 3.7 billion pound ($4.70 billion) equity income fund on June 3, in a rare move for a fund designed for retail investors.
The chief executive of Hargreaves Lansdown is forgoing his bonus of as much as £2.1m until fund manager Neil Woodford's troubles are resolved, a person familiar with the matter said. to clients of the UK’s largest investment fund supermarket whose funds have been trapped following the freezing of the Woodford Equity Income fund. At the end of March, Hargreaves customers accounted for about £2bn of the £10.1bn invested in Mr Woodford’s funds.
When Luke De Stefano learned last week that £28,000 of his money was suddenly trapped in Neil Woodford’s Equity Income Fund, he was left not only stunned but seriously inconvenienced. Like thousands of other individual investors, he was enticed by the glittering reputation of the UK’s best-known stockpicker. Mr De Stefano, a 23-year-old City worker, had put his money in Mr Woodford’s eponymous fund, hoping for the sort of returns the star manager had achieved in his previous job at Invesco.
Since Neil Woodford stopped customers withdrawing money from his flagship fund at the start of the month, investors have shunned anything tainted by Britain’s highest-profile fund manager. The company was not Mr Woodford’s only cheerleader, but its meteoric rise from a two-man operation in Bristol to a pillar of the FTSE 100 index meant it was the most influential, as customers ploughed billions of pounds into funds run by the once-revered stockpicker. Now, with its share price down by almost a fifth in just two weeks and MPs demanding more information about its links to Mr Woodford, the company faces the biggest crisis in the 38 years since Peter Hargreaves and Stephen Lansdown began using newspaper adverts to market unit trusts to retail investors.
The HL Multi-Manager High Income fund sold the stake in the LF Woodford Income Focus fund this week, said Emma Wall, head of investment analysis Hargreaves Lansdown. Woodford’s fund had assets of 353 million pounds as of June 12, according to data compiled by Bloomberg. The sale is part of a U-turn by Hargreaves Lansdown, which had been a major backer of Woodford until he froze withdrawals from his flagship LF Woodford Equity Income Fund at the end of May. Chris Hill, the chief executive officer of Hargreaves Lansdown, has apologized to clients of the firm who were affected by Woodford’s decision.
The chair of an independent committee overseeing the Hargreaves Lansdown pension scheme said he would consider apologising to retirement savers trapped in Neil Woodford funds after endorsing a best-buy list promoted by the online broker. David Grimes conceded in an interview with the Financial Times that his committee did not spend enough time reviewing the selection process used to choose investments on the Wealth 50 list of Hargreaves Lansdown’s favoured funds. Mr Grimes, chair of the Hargreaves Lansdown pension IGC, said the committee reached the conclusion that the selection processes for the Wealth 50 were “robust” and “rigorous” after an hour-long meeting.
The meltdown of Neil Woodford’s flagship fund has prompted the UK’s financial regulator to scrutinise whether Hargreaves Lansdown and other fund supermarkets that create “best buy” lists have been impartial enough when they backed the fund. Andrew Bailey, the head of the Financial Conduct Authority, added on Tuesday to calls for Mr Woodford to waive his fees while his Equity Income Fund has frozen £3.7bn of investor money. Mr Bailey said the FCA would “look again” at fund supermarkets including Hargreaves to “ensure they have been abiding by these principles” that demand they be impartial, thorough and timely when creating best-buy lists of favoured funds, which retail investors rely heavily on when choosing which funds to buy and sell.
Pressure continued to pile on Hargreaves Lansdown following the suspension of Neil Woodford’s flagship fund, with MPs and regulators scrutinising the extent of the broker’s commercial relationship with the fund. Chris Hill, Hargreaves chief executive, has been given a week to respond to a list of questions from the Treasury select committee, which is pushing to know whether the company received any kind of hidden arrangement fee from Mr Woodford’s Equity Income Fund. Hargreaves has heavily backed Mr Woodford and included his investments on lists of favourite funds that are marketed to retail investors.
British politicians and regulators piled pressure on Neil Woodford following the suspension of his flagship fund a week ago, while investors pulled money from his other products and a major backer distanced itself from the frozen fund. Woodford Investment Management suspended its equity income fund on June 3, a rare move for a product aimed at retail equity investors, after a run of redemption requests. Morgan's comments came after Andrew Bailey, chief executive of Britain's markets regulator, the Financial Conduct Authority, said the suspension raised "important questions" about how illiquid investments should be regulated.
Hargreaves Lansdown shares have shed nearly a fifth of their value this month following the freezing last week of Neil Woodford’s £3.7bn equity income fund to investor withdrawals. Hargreaves, the FTSE 100 platform used by 1.1m retail investors, has been criticised for its support of the Woodford Equity Income fund, which was one of its Wealth 50 list of favourite funds. to tens of thousands of customers affected by the suspension of Mr Woodford’s equity income fund, which the company continued to support until the fund was frozen to investor withdrawals.
Hargreaves Lansdown is consulting on whether to remove Neil Woodford’s Equity Income fund from its range of own-branded products in its latest move to distance itself from the stricken manager. The UK’s largest online broker has invested about £600m in Mr Woodford’s equity fund through its “multi-manager” packaged investments. The Woodford fund was suspended last week following a spike in redemptions.
The UK financial watchdog is facing calls to reform the system of “best buy” investment funds promoted by brokers such as Hargreaves Lansdown, which has been thrust into the spotlight by the suspension of Neil Woodford’s flagship fund. The suspension of the Woodford Equity Income Fund last week trapped £3.7bn of investors money and highlighted how brokers such as Hargreaves showcase certain funds in best buy lists, which are not regulated. “We would encourage the Financial Conduct Authority to look at best buy lists in order to stamp out conflicts of interest which do not benefit fund managers or customers,” said Colin Clark, a Conservative MP and member of the Treasury select committee.
Neil Woodford’s £3.7bn equity income fund, which the company continued to support until the fund was frozen to investor withdrawals. In a statement, Mr Hill said he wanted to “apologise personally to all clients who have been affected by the recent problems with the Woodford Equity Income Fund”.
Sitting in his offices near Oxford in the spring, Neil Woodford, Britain’s best-known fund manager , was already feeling tetchy. Asked in an FT interview how long his main investment fund could withstand ...
Hargreaves research director Mark Dampier, 62, is a longstanding supporter of Mr Woodfood and called him “one of the UK’s best fund managers”. Data on Hargreaves’ website showed that last month two batches of shares were sold under Mr Dampier’s name as a director. Company filings reveal Mr Dampier sold £600,009 worth of Hargreaves Lansdown shares on May 16 and his wife Annette sold £5m.
Pennon currently trades at a discount to its sector peers on a two-year historical basis, yet we think Viridor’s growth prospects distinguish the group from its pure water peers, writes Nilushi Karunaratne. Pennon offers a slightly different proposition to its fellow water companies in that more than half of its revenue comes from its waste management division, Viridor.
Investors in Neil Woodford’s flagship fund were left reeling this week after the veteran fund manager halted withdrawals, following 22 months of outflows that had left him fighting to keep pace with redemptions. , withdrew their support for Mr Woodford in the wake of his fund suspension and the UK financial regulator is in close talks with his investment firm. Mr Woodford launched his new equity income fund in 2014 and gathered £10.2bn in assets in under three years.
A mere two days after Woodford -- perhaps Britain’s most celebrated stock-picker -- stunned the world of finance by halting withdrawals from his flagship fund, his reputation is in tatters. The unraveling gathered pace on Wednesday as some supporters distanced themselves, with one key client who accounted for about 40% of assets at Woodford’s firm severing ties. What seemed like a sudden reversal of fortunes for the 59-year-old money manager has, in fact, been years in the making.
The decision to suspend withdrawals from Neil Woodford’s flagship Equity Income Fund is a stunning setback for one of Britain’s best-known fund managers. Some relate to Mr Woodford himself. All investment gurus make bad decisions and have bad years — even Warren Buffett, with whom Mr Woodford has been compared.
Wealth manager St James’s Place has terminated its £3.5bn relationship with Neil Woodford, in a devastating blow that leaves Britain’s best-known fund manager fighting to save his business. FTSE 100-listed St James’s Place, Britain’s largest wealth manager with more than £100bn of funds under management, said it was ending its two decades-long association with Mr Woodford and giving the mandate to Columbia Threadneedle Asset Management and RWC Partners to “ensure its clients’ investments continue to be managed effectively”.
The radical step by the 59-year-old manager could further undermine investor confidence and piles pressure on his firm after assets tumbled in the LF Woodford Equity Income Fund. For many investors, the freeze is a reminder of the turmoil that followed the 2008 financial crisis, when some managers resorted to such extreme measures to safeguard holdings. Hargreaves removed the main Woodford fund, and another that his firm oversees, from its Wealth 50 list of favorites.