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(Correcting that Woodford Investment Management transferred a number of stakes following Omnis's decision. It did not sell these stakes, as was originally reported.)
(Alliance News) - Woodford Investment Management Ltd transferred portions of a number of holdings on Friday following Omnis Investments' decision to remove Woodford as the Omnis Income & Growth fund manager.
Given recent issues with Woodford, including the suspension of withdrawals from its biggest open-ended fund, several companies have chosen to end their relationship, including St James's Place PLC and asset manager Omnis in June. Omnis is a specialist management company of financial advisor Openwork Ltd.
Woodford Investment Management issued a number of notifications relating to the transfer of its segregated mandate, which it had managed on behalf of Omnis.
Woodford Investment Management disclosed a 20% stake or 9.3 million shares in superyacht services firm GYG PLC compared to a 26% stake before the Omnis transfer, and a 20% stake or 21.3 million shares in drug developer Synairgen PLC versus 22% previously.
In addition, Woodford Investment Management disclosed a 37% or 28.8 million share stake in healthcare intellectual property commercialisation firm NetScientific PLC versus 47% prior to the transfer. Its stake in Eddie Stobart Logistics PLC was 23% or 86.9 million shares, having been 25% including shares held on behalf of Omnis.
The company also held a less than 5% stake in guarantor loans lender Amigo Holdings PLC, having previously held a 5.6% stake including shares on Omnis's behalf, and held a 33% interest in water-saving technology firm Xeros Technology Group PLC compared to 40% before.
Furthermore, Woodford Investment Management's stake in medical technology business Tissue Regenix Group PLC was pared down to 22%, or 259.8 million shares, after the Omis transfer from 26%, and its stake in tile retailer Topps Tiles PLC was below 5%, having been 5.1% including shares on Omis's behalf. Its Non-Standard Finance PLC stake was 24% compared to 25%, with its cancer firm Proton Partners International Ltd stake sitting at 49% from 50% after Omis's decision to move.