FCA having a look at Woodford fund

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FCA having a look at Woodford fund

The Financial Conduct Authority is monitoring funds invested in Neil Woodford’s Equity Income fund to prevent the liquidity crisis spreading.

Fund supermarket Hargreaves Lansdown has six popular funds exposed to Woodford Equity Income, which also accounts for over a tenth of Hargreaves’ £2.6billion Income & Growth fund. Funds run by Quilter Investors and the Share Centre also have money in the fund, which banned withdrawals in June.

Investors in these multi-manager funds can redeem their cash, but a rapid outflow could hit liquidity as managers can not sell out of the Woodford fund.

 

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FCA having a look at Woodford fund

The Financial Conduct Authority is monitoring funds invested in Neil Woodford’s Equity Income fund to prevent the liquidity crisis spreading.

Fund supermarket Hargreaves Lansdown has six popular funds exposed to Woodford Equity Income, which also accounts for over a tenth of Hargreaves’ £2.6billion Income & Growth fund. Funds run by Quilter Investors and the Share Centre also have money in the fund, which banned withdrawals in June.

Investors in these multi-manager funds can redeem their cash, but a rapid outflow could hit liquidity as managers can not sell out of the Woodford fund.

 

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