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Woodford Equity Fund Multi-Billion Pound Scandal

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Perhaps some stackers on this forum invested a few years ago in a rock-star fund called the Woodford Equity Fund promoted by Hargreaves Lansdown as one of their best known pedigree fund managers since sliced bread. The fund was managed by Link under the watchful regulator the FCA. Safe as houses so what's there not to like ?

Well the fund rocketed to many billions in value then Woodford started gambling, broke the house rules and no-one intervened until the fund collapsed losing investors billions of their savings and pension pots ( estimated loss to investors circa £5 billion ! ).

If you are / were / or know of friends & family that have suffered as a result of Woodford, you may find it useful to join a new Facebook Group that was formally launched today - https://www.facebook.com/groups/2301972116617520

Group action is going to take place and two large law firms ( Leigh Day & Harcus Parker ) are building up a case ( no win no fee ) to seek compensation for investors.
This will rock to the core big parts of the UK Financial System, Link might be busted and maybe the Financial Conduct Authority could end up in the gutter for sleeping at the wheel.

A recent BBC Panorama screening of the Billion Pound Savings Scandal shows just how "bent" or "negligent" some parts of the financial system can be even when fully regulated.
Panorama discussed the Blackmore Bond scandal but Woodford is much much bigger.


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I was using H&L platform at the time for my S&S ISA and SIPP.  

It didn’t sit right with me how much H&L were pushing this new fund so I stayed away from it, then it bombed.

After I moved all my portfolios to AJ Bell.




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