FCA's board requirements won't curtail another Woodford

Changes to fund boards not enough to make a difference

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William Heathcoat Amory
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William Heathcoat Amory

Fund investors are likely feeling besieged. The travails of Woodford are highlighting some of the weaknesses of the "self-advised" market - with accusations swirling as to who is responsible.

Retail investors - being non-experts generally - look to fund platforms to provide ideas for their portfolios. While Hargreaves Lansdown was clearly tardy in taking Woodford's largest fund off its recommended lists, it had at least identified the issues with the fund, namely its unquoted allocation and the subsequent liquidity challenge it represented. That Woodford had these liquidity issues in the first place though, points to a serious problem with the fund's governance. Update: Woodford calls Equity Income fund's transparency 'damaging' as fund suspension continues According to th...

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