Image:
Niel Woodford's Equity Income fund was suspended in June
The Financial Conduct Authority (FCA) is currently investigating funds worth more than £15bn that have holdings in the collapsed Woodford Equity Income fund (WEIF) as it seeks to prevent a liquidity crisis.
The FCA is closely monitoring multi-manager funds that have holdings in Woodford Equity Income fund (WEIF) over contagion fears for investors. At least 15 UK retail funds are invested in WEIF, including multiple multi-manager funds from Hargreaves Lansdown (HL) and Quilter Investors, according to FTfm analysis of Morningstar data. HL's six funds exposed to WEIF total £6.1bn in assets, three of which hold Woodford's failed vehicle in their top ten holdings. The £2.6bn Income & Growth fund counts WEIF as 11% of its total holdings. Quilter, which dropped a segregated mandate managed b...
To continue reading this article...
Join Investment Week
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
