Woodford Equity Income: Three Months Since Suspension

Woodford Equity Income gated three months ago today, and many of its biggest holdings have suffered share price collapses

3 September, 2019 | 9:08AM

Warning sign

It's been a torrid three months for fund manager Neil Woodford since the suspension of his flagship Woodford Equity Income fund on June 3. In the weeks since the fund was forced to suspend trading, the embattled fund manager has faced a deluge of bad news around many of his largest fund holdings. The fund is set to remain suspended until at least December and investors are no longer able to see what companies it invests in.

Burford Short Attack

The highly public spat between litigation specialist Burford Capital (BUR) and US hedge fund Muddy Waters grabbed the headlines in August, usually a quiet month for City news. But the Burford story is also a Woodford story – the Aim-listed firm makes up 6% of the suspended Woodford Equity Income fund, according to Morninstar data (to April 30, 2019). The most recent top 10 holdings data, to June 30 2019, shows that Burford is the second biggest holding for the fund after Barratt Developments (BDEV), which reports final results this week.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Amigo Holdings PLC9.55 GBX3.24
Barratt Developments PLC541.00 GBX2.23
British American Tobacco PLC2,572.00 GBX0.84
BT Group PLC104.55 GBX3.36
Burford Capital Ltd722.00 GBX0.77
Eddie Stobart Logistics PLC7.10 GBX0.71
Edinburgh Investment Ord464.50 GBX1.64
Perpetual Income & Growth Ord220.00 GBX0.46
Prothena Corp PLC11.45 USD-3.13

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