ALEX BRUMMER: It’s time to reshape the FCA that was too slow to see investing crises coming and imposed weak penalties Successive Chancellors have heaped more responsibility on the City regulator Andrew Bailey should recommend creating a new consumer protection agency The FCA’s predecessor, the FSA proved incompetent in regulating the big banks By Alex … Read more
It was only a matter of time. So Friday’s announcement that fund manager Mark Barnett – dubbed ‘Son of Woodford’ – had left investment house Invesco by ‘mutual’ consent hardly took financial experts by surprise. Speaking to a number of investment advisers on Friday, the consensus view was that he should have been jettisoned by … Read more
Neil Woodford protege Mark Barnett is fired from Invesco Perpetual after 24 years By Daily Mail City & Finance Reporter Published: 21:50 BST, 15 May 2020 | Updated: 21:50 BST, 15 May 2020 Mark Barnett, the one-time protege of fallen fund manager Neil Woodford, has been fired from Invesco Perpetual. In a dramatic fall from … Read more
Mark Barnett: Ousted from Invesco Invesco has ousted fallen star manager Mark Barnett citing ‘disappointing performance’, after his flagship funds floundered during Brexit and the Covid-19 crisis. The exit of Barnett – a former protege of disgraced investor Neil Woodford – is accompanied by a shake-up of Invesco Perpetual’s UK equity team and fund portfolio. … Read more
Legal fight looms over Hargreaves Lansdown’s role in Woodford fund RGL Management is edging closer to launching a group legal claim against HL The claim is against HL’s promotion of Woodford Equity Income ahead of its closure in June last year It believes investors who bought the fund were not fully informed of the risks … Read more
Savers who placed their trust in Neil Woodford’s fund management empire, many on the recommendation of broker Hargreaves Lansdown (HL), now know the scale of the damage done. The wind-up of the better, more liquid part of the portfolio will result in heavy losses. The best that can be expected is the return of 59p … Read more