Woodford: Customer Withdrawals and Unquoted Stocks

woodford: We will continue to put pressure on Woodford Investment Management to sell out of their unquoted stocks in the Woodford Equity Income Fund, Hill said, according to The Guardian. Those investments are harder to turn into cash to meet customer withdrawals. In an online post addressed to Hargreaves customers, the chief executive, Chris Hill, said he was angry the situation was still unresolved and pledged to ratchet up the pressure on Woodford's investment house. We have also urged Woodford to consider alternative ways to release capital so that investors can get access to their money as soon as possible, while balancing the need to get a fair price for assets, he added. But one industry expert, who asked not to be named, said Woodford may be able to split the fund, separating the harder-to-sell assets from its listed stocks. Hargreaves Lansdown refused to comment on what alternative measures could help Woodford return cash to clients. (news.financializer.com). As reported in the news.