|Bid||1,039.50 x 237400|
|Ask||1,040.00 x 142900|
|Day's range||1,033.00 - 1,054.00|
|52-week range||905.60 - 1,234.50|
|Beta (3Y monthly)||0.89|
|PE ratio (TTM)||32.18|
|Earnings date||31 Jul 2019|
|Forward dividend & yield||0.48 (4.61%)|
|1y target est||1,321.29|
Neil Woodford has sold 97 million pounds of shares over the past 10 days to boost liquidity in his suspended equity income fund, a Woodford spokesman said on Thursday. Market participants have been expecting a wave of forced selling by Woodford, with some hedge funds taking out short positions against his investments. "Since suspension, Woodford has sold 97.1 million pounds of stock as he continues to reposition the Woodford Equity Income Fund portfolio," a Woodford spokesman said by email.
Neil Woodford has sold 97 million pounds ($123 million) of shares over the past 10 days to boost liquidity in his suspended equity income fund, a Woodford spokesman said on Thursday. Market participants have been expecting a wave of forced selling by Woodford, with some hedge funds taking out short positions against his investments. "Since suspension, Woodford has sold 97.1 million pounds of stock as he continues to reposition the Woodford Equity Income Fund portfolio," a Woodford spokesman said by email.
Assets under management in Neil Woodford's Income Focus Fund have fallen by more than 100 million pounds ($127 million) since the suspension of trading in his main fund last week, data from Morningstar showed. Investors have grown nervous about Woodford after the freezing of his flagship 3.7 billion pound Equity Income Fund on June 3. Wealth managers St James's Place and Openwork also pulled separate mandates totalling nearly 4 billion pounds from Woodford last week.
A senior British lawmaker joined calls on Thursday for embattled money manager Neil Woodford to stop charging fees on a fund he has stopped people from leaving. Woodford Investment Management suspended trading in its 3.7 billion pound ($4.71 billion) Equity Income Fund on Monday after an increase in client demands to take back their money.
British wealth manager St. James's Place said on Wednesday it had terminated its investment mandate with Woodford Investment Management (WIM). St. James's Place said in a statement that none of its funds were part of Woodford's Equity Income Fund, suspended on Monday after an increase in client redemptions. Richard Colwell of Columbia Threadneedle and Nick Purves of RWC Partners have been handed the mandate, which includes the UK High Income Unit Trust, UK Equity (Life and Pension), Income Distribution (Life) and SJPI UK High Income funds, it said.
Britain's financial watchdog said it was examining a decision by a frozen Woodford fund to list investments in Guernsey, as wealth manager St James's Place pulled 3.5 billion pounds ($4.45 billion) from the firm in a widening fall-out from the suspension. In a rare event, British fund manager Neil Woodford suspended trading late on Monday in his 3.7 billion pound ($4.70 billion) flagship Equity Income Fund after an increase in demand by clients to take back their money. Woodford, one of Britain's highest-profile money managers and a particular favourite of retail investors, told investors he needed to prevent them leaving in order to give him time to sell out of a number of unlisted or illiquid positions.
Investors in Neil Woodford's Equity Income fund are not the only ones who will be impacted by the fund's suspension. These three FTSE 100 (INDEXFTSE: UKX) stocks could also be affected.
This FTSE 100 (LON:INDEXFTSE:UKX) stock is running out of steam and it is time to sell up and move on argues Rupert Hargreaves.
Tesco plc (LON: TSCO) shares have done well this year, outperforming the FTSE 100 (INDEXFTSE: UKX). But this stock looks more attractive to Edward Sheldon.
Diageo plc (LON: DGE) could outperform the FTSE 100 (INDEXFTSE:UKX), with its long track record of generating impressive financial performance set to continue, I believe.
The Investment Association said it had written to 69 British companies which it said have no women on their boards or just one asking them for explanations following the government-backed Hampton-Alexander Review which set a target of ensuring women make up at least a third of leadership teams by 2020. "It is totally unacceptable that one in five of the UK’s biggest companies are falling so far short ... Companies must do more than take the tokenistic step of appointing just one woman to their board and consider that job done," the association's Chief Executive Chris Cummings said in a statement on Friday. The letter comes just ahead of the season for most companies' annual general meeting, where investors vote on a range of issues including board membership, and which are set to see increased push-back from investors over poor performers.
British wealth manager St James's Place (SJP.L) beat forecasts for net inflows of client cash in a tough fourth quarter for global markets, sending its shares higher. While total assets fell 5 billion pounds on weaker market returns, net inflows hit 2.6 billion pounds as clients continued to seek its face-to-face advice on a range of services from pensions to investments and tax planning. "Against the particularly difficult market conditions that prevailed in the final quarter... I am pleased to report another good set of results that demonstrate the resilience of our business," Chief Executive Andrew Croft said in a statement.
British shares sank to their lowest since March on Tuesday as a broad sell-off hit stocks across Europe, caused by a toxic mix of weak results, jitters over geopolitical tensions, Brexit, Italy's budget ...