{"id":302,"date":"2019-01-13T05:15:35","date_gmt":"2019-01-13T05:15:35","guid":{"rendered":"http:\/\/forefrontnews.cn\/finance2news\/?p=302"},"modified":"2019-01-13T05:15:35","modified_gmt":"2019-01-13T05:15:35","slug":"fund-manager-neil-woodford-sells-an-estimated-1-4bn-in-shares","status":"publish","type":"post","link":"http:\/\/forefrontnews.cn\/?p=302","title":{"rendered":"Fund manager Neil Woodford sells an estimated \u00a31.4bn in shares"},"content":{"rendered":"

Fund manager Neil Woodford has dumped around \u00a31.4billion worth of shares in the past six months to raise money as unhappy investors pull money from his underperforming funds.<\/p>\n

Woodford has reduced his holdings in some companies including brickmaker Forterra and travel website Hostelworld.<\/p>\n

A combination of investor redemptions and underperformance stemming from bad bets on some blue-chip firms, such as Provident Financial and the AA, has seen the assets under management across his three funds shrink from \u00a317 billion to \u00a311 billion.<\/p>\n

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Woodford’s flagship Equity Income fund has underperformed against the benchmark\u00a0 FTSE All Share index and the average fund in the Investment Association’s All Companies sector over four years<\/p>\n

His Income Focus fund is down 8 per cent since March 2017, while the Patient Capital investment trust is down by almost 15 per cent since April 2015.<\/p>\n

The Equity Income fund has fared better (up 15 per cent) but its performance is over a longer period (since June 2014) and still lags behind the FTSE All-Share Index (up 26 per cent).<\/p>\n

It also trails behind the 26 per cent return generated by the average fund with a similar mandate in the Investment Association’s All Companies sector.<\/p>\n

Woodford admitted in last week\u2019s Mail on Sunday the past two years have been his \u2018most difficult period\u2019.<\/p>\n

Although the fund manager insists he does not want to portray himself as a victim, it is obvious he is feeling unloved: targeted by a hostile press, abandoned by many investors (and some financial advisers) writes Jeff Prestridge.<\/p>\n

He adds Woodford also feels victimised by hedge fund managers who have shorted some of his funds’ holdings \u2013 betting on them falling in price.<\/p>\n

Click here to read the interview in full.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Fund manager Neil Woodford has dumped around \u00a31.4billion worth of shares in the past six months to raise money as unhappy investors pull money from his underperforming funds. Woodford has… <\/p>\n","protected":false},"author":1,"featured_media":303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[257],"tags":[137,138,116,136,117],"views":84,"_links":{"self":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts\/302"}],"collection":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=302"}],"version-history":[{"count":0,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts\/302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/media\/303"}],"wp:attachment":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=302"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}