Northern Rock share-price collapse rocks investment houses

Scores of investment houses have been affected by the share-price collapse of Northern Rock, which s...

Scores of investment houses have been affected by the share-price collapse of Northern Rock, which saw its stock plummet 31% on Friday. L&G, Rensburg, Swip, Resolution, F&C and Lazard all have funds holding the stricken stock. Swip has admitted a 3.28% position in the company. Among the funds affected are Swip UK Income and the £925m SW UK Equity Income, both run by Richard Dunbar, and Robert Waugh's Absolute Return UK Equity vehicle. Lazard's Alan Custis and Tony Willis hold the stock in their UK Alpha and UK Omega funds, with Northern Rock making up more than 3% of its concentrated, 30...