Neil Woodford News

14.01 / 08:37

Trade President Inside Updates Former CIO of Neil Woodford client Acacia Research charged with insider trading

Tobia joined Acacia's board in 2018 and took on the role of president and CIO in 2019, positions he held until September 2021. During this period, Acacia was the sole client of disgraced former fund manager Neil Woodford, who in February that year, was preparing to launch his new advisory firm, Woodford Capital Management Partners. Update: Link completes Woodford-Acacia deal as LF Equity Income value reduces after Ombu deal Acacia is a listed US investor in early-stage life science and biotech companies, the type of stock Woodford had held in his former LF Woodford Equity Income fu...

11.04 / 10:35

FCA issues warning notice to Neil Woodford and WIM over liquidity failings

According to a statement from the regulator, WIM breached Principle 2 of the FCA's Principles for Business, by «failing to act with due skill, care and diligence in the conduct of its business». It also said Woodford breached Statements of Principle 2 and 6 of the FCA's Statement of Principle for Approved Persons in relation to his roles as CF1 director and CF30 customer at the firm. Woodford investors set for first Link settlement payment as ACD makes distribution The regulator argued the investment firm failed on four counts between 31 July 2018 and 3 June 2019, with each relate...

02.04 / 14:35

Progressive innovations reports patient stake Schroders Capital Global Innovation slashes stake in underperforming legacy holding Oxford Nanopore

In the trust's annual report for 2023, managers Tim Creed and Harry Raikes set out the progress made towards rebalancing the portfolio to ensure the «appropriate» liquidity to execute the share repurchase programme announced in September 2023 and «support the portfolio». To accomplish this, the managers reduced INOV's holding in Oxford Nanopore, one of the trust's legacy holdings dating back to Neil Woodford's tenure as fund manager of the former Woodford Patient Capital trust. As of 31 December 2022, Oxford Nanopore comprised 23.3% of the trust's total equity holdings. By the end of ...

09.02 / 16:52

companies Link Fund Solutions Update: Woodford scheme of arrangement sanctioned by High Court

In his written judgment, justice Jonathan Richards confirmed he has no reason to contradict the outcome of the scheme vote and so will sanction the scheme of arrangement.

09.02 / 14:50

companies Link Fund Solutions Woodford scheme of arrangement sanctioned by High Court

In his written judgment, justice Jonathan Richards confirmed he has no reason to contradict the outcome of the scheme vote and so will sanction the scheme of arrangement.

19.01 / 16:17

regulation companies financial conduct authority FCA Unit trusts/OEICs Link Fund Solutions FCA reasserts proposed Woodford redress is 'subset of total losses' as sanction decision delayed

Smith argued the fault of Link Fund Solutions Limited lies in liquidity management failings, as the regulator has since it first revealed the scheme in April 2023.

02.01 / 12:03

companies Wall Street hedge fund takes short position against Hargreaves Lansdown

Point72 is headed by Steve Cohen, which, alongside European division Point72 Europe (London), took a net short position against HL, at 0.5% and 0.66%, respectively.

22.12 / 12:58

companies Woodford IM writes off £1m in loans owed to companies controlled by Woodford and Newman

As of 31 March 2023, these had been written down to nil to 'reflect the fact these will not be repaid'.

14.12 / 15:53

Link Fund Solutions shareholders approved Woodford scheme of arrangement approved

The scheme of arrangement proposed by Link Fund Solutions has been approved by a significant majority of investors at a meeting held yesterday (13 December).

06.12 / 15:55

financial conduct authority FCA Unit trusts/OEICs Link Fund Solutions Remaining Woodford fund assets shrink 40% since last distribution revealed

The report also revealed that just six holdings of a total ten hold any value, with the remaining four companies representing no value in the fund.

30.11 / 17:11

regulation financial conduct authority FCA Harcus Parker accuses FCA of 'inaccurate summary' regarding potential third party Woodford claims

Harcus Parker senior partner Damon Parker acknowledged that investors will theoretically be able to file claims against third parties involved in the collapse of the former WEIF but argued it will be “impossible” to do so in practice.

12.10 / 15:41

regulation UK companies Financial Services Wealth managers Unit trusts/OEICs Woodford investors to vote in single class as scheme of arrangement vote delayed

The scheme meeting and vote has been delayed to 13 December 2023.

04.10 / 14:11

regulation financial conduct authority FCA Woodford FCA confirms Link Fund Solutions investigation will be published if investors accept Woodford deal

Therese Chambers, joint executive director of enforcement and market oversight at the FCA

11.09 / 08:13

companies financial conduct authority FCA Link Fund Solutions Deal Woodford Woodford deal requires 'careful thought' from investors

The practice statement letter noted the FSCS had yet to make a determination regarding any potential compensation

03.08 / 00:43

UPS Oracle Bottomline performer star Link plunges to $418m loss on British woes

Link Group will plummet to a bottomline loss of $418 million in the 12 months to June 30 because of heavy one-offs and provisions stemming mainly from a messy exit from a troubled United Kingdom business.

28.07 / 13:57

regulation companies Financial Services Wealth managers financial conduct authority FCA Asset Managers Woodford compensation 2024 FCA: Woodford compensation payments could begin as early as 2024

The update revealed the creation of an investor committee to be chaired by Jamie Drummond-Smith, a former Deloitte partner who oversaw the company voluntary arrangement of Arcadia Group as interim chair.

28.07 / 09:17

Citi PwC Woodford compensation PwC to oversee £235m compensation scheme for Woodford investors

PwC will oversee a multi-million pound compensation scheme for investors trapped in Neil Woodford’s defunct Equity Income fund.

21.07 / 12:31

regulation Financial Services financial conduct authority FCA Asset Managers Woodford No mention of Odey or Woodford in FCA annual report

Four skilled persons reviews within asset management and alternatives portfolios were carried out over the year to 31 March 2023.

14.06 / 01:13

Citi Sexual harassment Odey case is a wake-up call for the City over sexual harassment

David Wighton is a columnist at Financial News

01.06 / 07:37

Woodford Woodford collapse four years on: ‘It will take longer for trust and consumer confidence to return’

For the more than 300,000 investors trapped in Neil Woodford’s defunct flagship fund, the UK regulator’s announcement in April that they are in line for more than £230m in compensation could not have come soon enough.

20.04 / 06:49

Citi Woodford compensation Woodford investors to get £235m in compensation after FCA probe

Investors in Neil Woodford's collapsed fund empire are due to receive £235m in compensation after a Financial Conduct Authority investigation into authorised corporate director Link Fund Solutions.

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