Friday Briefing: What next for Woodford investors?

Results of the vote

James Baxter-Derrington
clock • 3 min read

The question leading into Wednesday’s vote on the scheme of arrangement for Woodford investors was whether exhaustion outweighed anger.

Just after 3pm Friday 15 November, we learnt that 1,656 days since suspension was a few too many. Of the roughly 300,000 investors who held the fund when it was suspended, slightly more than 54,000 participated in the vote. Woodford scheme of arrangement approved From these, 93.7% by number and 96.1% by value voted to approve the scheme and begin to draw a line under the sorry affair. (An interesting note, presented without comment: This means around 3,400 investors voted against the scheme, despite roughly 20,000 claimants registered with the Leigh Day and Harcus Parker claims ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Fund management

Experts divided on abrdn takeover risk as Bird doubles down on cost-cutting

Experts divided on abrdn takeover risk as Bird doubles down on cost-cutting

AUM size may prevent bids

Eve Maddock-Jones
clock 24 January 2024 • 4 min read
Chilean boutique takes 25% stake in Aubrey Capital Management

Chilean boutique takes 25% stake in Aubrey Capital Management

LarrainVial Asset Management

Eve Maddock-Jones
clock 16 January 2024 • 1 min read
Ardevora Asset Management shuts its doors after 14 years

Ardevora Asset Management shuts its doors after 14 years

Founders worked together for 38 years

Eve Maddock-Jones
clock 16 January 2024 • 1 min read
Trustpilot