Member Info for snkj68

Woodford fund has not failed... only suspended in the interests of remaining investors.

Certainly not the first fund suspension since the 'war' (unless you're referring to very recent 'wars') - for example; many funds were suspended around the time of the EU referendum result.

Further info on fund suspension is provided on FCA website: https://www.fca.org.uk/news/statements/guidance-fund-suspensions

All above board and ultimately for the benefit of remaining investors in Woodford - like me! :)

sain@vision I'm not quite sure what your agenda is... why you continue to try to scare monger, misquote and misrepresent what has been released by HL - do you have a short position perhaps?

I'm going to continue to hold Woodford's fund as a constituent of my diversified portfolio, based on my belief that he is a good fund manager and that over the long term this will shine through.

I feel his ability as a fund manager is supported by his investment style (which is somewhat contrarian) - and which he has stayed true to over time (despite pressure to follow the crowd).

I appreciate that previous good performance is not a guarantee of future returns, or necessarily an indicator.

I also consider HL to be a good company, which always aims to act in the interests of its clients.

Besides, to avoid escaping the point, Woodford has underperformed over a short time horizon (~2 years) for various reasons, but he has been a very good fund manager over many years and has come out on top in the past after previous similar periods of short-term underperformance. He’s been a victim of his own success in this instance, and stretched things too far with the illiquid portion of the portfolio - which proved to tricky to keep control of when fickle short term holders sell out early. I was and still am prepared to hold for the long term (as the fund is designed for: as per supplementary fund info produced by Woodford which you have to confirm you’ve read before you can invest).

I hope the press doesn’t scare a generation of people away from investing in funds / on a self managed basis with this witch hunt, & that the fund reopens in a few months - only for Woodford to turn it around over the long term (if he’s given the chance)!

Again, I wouldn’t be investing with a view to use future unrealised ‘profits’ as my sole strategy for repaying debts... it doesn’t take a genius to realise that you’d need to at least exceed interest costs before representing a profit - & as I joke with my investor friends; stock market returns are not guaranteed whereas a lender will always expect to be repaid & some. This is personal finance 101... Just like gambling - one should only invest what they can afford to lose - or at least not need to access for 5 years... anything else should be in cash/already used to repay debts and therefore reduce interest costs.

I agree that not being able to access savings is not ideal - I hold units in WEI myself - that said, with reference to my original point, market based assets are for the long term... one should not have all their eggs in one basket, & whilst it doesn’t make for good press, investors who self manage (myself included) have to accept that such investments are inherently risky - with fund suspension not being the worst possible outcome by some stretch!

Last time I checked the income being produced was still being paid out from the fund, & provided each investor has sufficient cash reserves available for any immediate / unforeseen needs (as is prudent for a self-managed investor - & I’m sure forms the basis of any half decent adviser recommendations too) - the funds suspension should not cause problems for the vast majority of investors - unless it is suspended for years (which I understand is highly unlikely)

Again, whilst not ideal, I feel the press are turning this situation into some sort of witch hunt

We clearly have very different views on what a 'horror story' is sain@vision.

Market-based assets are long term investments and the risks of investing are very clear.

Its a shame these people are unable to go on their planned cruise holidays / pay for house works in the next few months - however they should really have freed this cash up long ago when they originally came up with their plans.