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The Big Short on Woodford-backed firms: Hedge funds bet £900m that shares held by fund manager will fall

https://www.thisismoney.co.uk/money/markets/article-7119761/amp/The-Big-Short-Woodford-backed-firms-Hedge-funds-circle-star-fund-managers-picks.html

The Big Short on Woodford-backed firms: Hedge funds bet £900m that shares held by fund manager will fall
By William Turvill For The Mail On Sunday
21:02 08 Jun 2019, updated 13:35 09 Jun 2019

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ALEX BRUMMER:

Woodford crisis must speed badly-needed reforms or it will become a gift to the Corbynistas
Concerns grow that star fund manager's picks face a fire sale
Short-sellers have taken positions out against a series of Woodford favourites
They include Barratt Developments, Crest Nicholson, Kier and BCA Marketplace
Hedge funds have placed a £900million bet that shares held by Neil Woodford will plummet as the star fund manager is forced into a fire sale.

The aggressive tactic, known as short-selling, is another blow to Woodford whose reputation has already been badly damaged by the debacle at his Equity Income fund.

Short-sellers have taken positions out against a series of Woodford favourites, including Barratt Developments, Crest Nicholson, Kier and We Buy Any Car owner BCA Marketplace.

Short-sellers have taken positions out against a series of Woodford favourites
In some cases, almost one in seven investors in these firms is betting the share price will fall.

Other companies are expected to be targeted in the coming weeks as Woodford seeks to sell off his stakes in 'illiquid' firms whose shares are not often or easily traded either because they are small listed entities or unlisted on the stock exchange.

https://www.thisismoney.co.uk/money/markets/article-7119761/amp/The-Big-Short-Woodford-backed-firms-Hedge-funds-circle-star-fund-managers-picks.html

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