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LF Equity Income (Woodford)

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    LF Equity Income (Woodford)

    Just had an email off my pals at HL about this.

    I hold about 7000 units in this which have cost me about 9k overall. They were sat duing all the winding up processes at about 5.5k. This new email has dropped another drop on the price so now they might be worth 3.5k. This is an absolute joy and I'm happy to have learned a lesson here. Thankfully HL are 'sorry' about it (I'm guessing keeping that fund on their wealth list for so long is the reason).

    Looking back at the history it was doing fairly poorly almost as soon as I bought any of them, so I was probably following a recommendation somewhere. As is probably self-evident I'm fairly new to this, but how regularly do large (was this large?) funds like this go under in the same way?

    #2
    Originally posted by amanwhoisquiet View Post
    As is probably self-evident I'm fairly new to this, but how regularly do large (was this large?) funds like this go under in the same way?
    Almost never which is why this one was such a big deal. Woodford played an absolute shocker. I'd like to think that he'll never work again -- not that he'll have to mind -- but he seems to be trying to spin up another firm in China.
    ---

    Former member of IPSE.


    ---
    Many a mickle makes a muckle.

    ---

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      #3
      Yeah, I had about 12.5k in there too by the end, although I suppose I always considered it a punt (it always looked like a much riskier fund than advertised). For anyone looking purely at Woodford's history and the advertising, it was probably close to miss-selling. I think the FCA played a shocker. Hey ho.

      Just waiting for Vanguard to enter the UK SIPP space, then I'll punt all HL funds over there.

      Comment


        #4
        Originally posted by wattaj View Post
        Woodford played an absolute shocker. I'd like to think that he'll never work again
        It's like changing the name of the fund will have actually done him a favour then?

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          #5
          Had about 25K. Ah well, lesson learned.

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            #6
            https://www.hl.co.uk/news/articles/a...me-fund-launch

            "In our view Neil Woodford is an exceptional income investor and one of the finest fund managers of his generation."

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              #7
              Originally posted by mudskipper View Post
              Neil Woodford could launch high income fund

              "In our view Neil Woodford is an exceptional income investor and one of the finest fund managers of his generation."
              Needs more class action.

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                #8
                Originally posted by amanwhoisquiet View Post
                It's like changing the name of the fund will have actually done him a favour then?
                I doubt it. This stink will follow him to the grave. Hopefully beyond.
                ---

                Former member of IPSE.


                ---
                Many a mickle makes a muckle.

                ---

                Comment


                  #9
                  Originally posted by mudskipper View Post
                  Had about 25K. Ah well, lesson learned.
                  I manage the Father-in-Law's portfolio and he had about the same. Pants really.
                  ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

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                    #10
                    I was under the impression he has too many long term assets and was unlucky to have too many people wanting redemptions at once?

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