Invesco Perpetual UK equities manager Mark Barnett has joined his predecessor Neil Woodford in the FE Hall of Fame for fund managers that consistently deliver alpha, despite both fund managers currently being fourth-quartile in their sectors.
Another of Neil Woodford’s majority-owned holdings, Spire Healthcare, stumbled on Friday as it reported weaker earnings and announced its CFO had stepped down.
After touching a 22-year low on Monday, Provident Financial’s share price spiked massively on Tuesday morning, reaching a six-month high of 1,075p, as it resolved one of its investigations with the Financial Conduct Authority (FCA).
Provident Financial’s shares have sunk to their lowest point since 1996 as rumours swirled that the firm might include a £500m rights issue in its annual results.
Neil Woodford’s flagship equity income vehicle topped The Share Centre’s most sold fund list in January, sharing the spotlight with several other big names in the UK retail space.
Provident Financial’s share price saw a modest gain on Friday morning after confirming it had finally found a CEO replacement.
Shares in Capita plummeted 40% on Wednesday after the tormented outsourcing firm announced a rights issue and that it had suspended its dividend.
Tuesday was a mixed bag for FTSE 250 trading updates, with Provident Financial predicting a bigger loss for its troubled home credit division and JD Sports and Ashmore reporting that business is booming.
Sainsbury’s has upgraded its profit forecast after a “record” Christmas sales period, while Neil Woodford-owned Burford Capital teased markets with news of “strong growth” from its investments.
Mirriad, a portfolio company of Neil Woodford favourite IP group, has confirmed its £62m flotation on the Alternative Investment Market (Aim).
Provident Financial’s car finance division Moneybarn is being investigated by the Financial Conduct Authority over loan affordability assessments and its treatment of customers facing financial difficulties.
According to Morningstar fund flow data the UK equity income sector was the most unloved sector in October, haemorrhaging more money than other out of vogue sectors like property, UK gilts and absolute return. So, why has the asset class become so passé?
