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  1. #891

    TPAFKAk2p2

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    Quote Originally Posted by Fred Bloggs View Post
    It's complicated, but here's an attempt -

    Equity Income Fund - Has been "frozen" due, basically, to Woody investing way too much of the money in illiquid assets. And when more people were drawing money out than paying in, he couldn't meet redemptions. He had no choice but to suspend the fund. You will have to wait until the fund re-opens to get what remains of your money back. It is possible the fund will not re-open but will be liquidated and the proceeds distributed pro-rata. Beyond that, nobody knows the future.

    Equity Income Focus Fund - AFAIK, business as usual.

    Woodford Patient Capital (WPCT) - Note this is an investment trust, not strictly "a fund". It's shares are quoted and traded on the London stock exchange like any other publicly quoted company. Due to Woody's investment choices being quite "brave" (and other stuff too) it has lost rather a lot of it's value since the equity income fund got suspended. Since it is quoted on the LSE, if the number of sellers is more than buyers, the share price drops and may fall below the trust's net asset value (the value of the underlying assets held by the trust). Presently, that is exactly what has happened to WPCT. There's other stuff too, much, much more that you can find all over the media. But that's the situation as I understand it today. HTH.
    Ta. It's the Equity Income fund I've got some of my dosh in. Ah well, will have to see what transpires.

  2. #892

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    Quote Originally Posted by mudskipper View Post
    Ta. It's the Equity Income fund I've got some of my dosh in. Ah well, will have to see what transpires.
    OK. Then you're locked in, I'm afraid. Either you do nothing and wait to see how the fund performs going forward after the locks are taken off. Or you wait for the fund to be unfrozen and then cash out. Or the decision will be made for you via a liquidation and return of what's left of your money. Nobody knows yet if the third option will happen or not.
    Public Service Posting by the BBC - Bloggs Bulls**t Corp.
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  3. #893

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    Quote Originally Posted by Platypus View Post
    Thanks for the recommendation. I've ordered a copy as it's clear to me that I need to know more.
    He is a guest writer on the monevator website also. His article on the merits of owning a total world equity index tracker (like VWRL) is worth a read.

    Kroijer

  4. #894

    Thumbs down Woodford Equity Income Fund being liquidated.

    Quote Originally Posted by mudskipper View Post
    Ta. It's the Equity Income fund I've got some of my dosh in. Ah well, will have to see what transpires.
    You and any other unfortunates need to read the press this morning. It's not great news, but you will eventually get some money back.
    Public Service Posting by the BBC - Bloggs Bulls**t Corp.
    Officially CUK certified - Thick as f**k.

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