I also have lots invested in the Hargreaves Multi-Manager Funds, and am now shocked how much Woodford is part of EVERY HL-MM fund. Examples: HL-MM Income and Growth: 14% Woodford HL-MM Equity and Bond: 10.2% Woodford HL-MM Balanced Managed: 4.8% Woodord.
As Woodford's Patient Capital went down, he used his main fund to buy and shore up Patient Capital - and at an INFLATED price (NAV - which is lower than trading price.). This resulted in Woodford's main fund and the HL-MM funds being invested in crap that differs from the fund name "style".
I have just (2 days ago) sold half of my HL-MM Income and Growth and half of my HL-MM Equity and Bond. Despite the Woodford suspension these sales went through. SO HAVE I BEEN PAID ZERO for the Woodford element? I should at least get an IOU for the Woodford element. I will try to determine this tomorrow
If this carry-on was in the US, there would be a class-action lawsuit both on Woodford and HL. (think Madoff). I will also be calling the Financial Ombudsman and FCA for some opinions.
Any views or opinions?