richfool wrote:Surely the root cause of the Woodford problems were that he had invested too much into the illiquid "off-piste" holdings, in contravention of the rules of the fund/trust. Then when withdrawals increased and those proportions worsened, the Directors were obliged to act.
Yes but don't confuse an open ended OEIC with an investment trust (which will never have the same liquidity problems) The Trust got into difficulty mainly as regards its internal performance when Woodford off loaded unlisted investments into it from his OEIC, coupled with having a totally ineffective Board of Directors because they appeared to be uncritically on his side.
Dod