spoiler: The suspension must be formally reviewed and investors must be told if they will soon have access to their cash, according to The Guardian. Here's a spoiler the chances of the gates being released on Monday are close to zero. Four weeks have passed since dealings were suspended in his Equity Income Fund and the arrival of the 28-day mark obliges the manager to say something. The fund had roughly 3.5bn of assets at suspension and too few holdings have been liquidated in the past month to meet the anticipated level of redemption requests. Stakes in unquoted companies the source of most of Woodford's woes are harder to shift and only a handful seem to have been sold in recent weeks. Add up Woodford's public disclosures of sales of stakes in quoted companies and they come to about 300m, a figure inflated in the past week thanks to a chunky holding in BCA Marketplace, the car auction firm on the receiving end of a takeover bid.
(news.financializer.com). As
reported in the news.
Tagged under spoiler, monday topics.