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Small Cap Value

Value oriented portfolio of small cap equity holdings

Small-Mid Cap Value

Value oriented portfolio of small-mid cap equity holdings

Mid Cap Value

Value oriented portfolio of mid cap equity holdings

Large Cap Value Select

Value oriented portfolio of large cap equity holdings

Dividend All-Cap Value

Value oriented portfolio of all cap equity holdings paying high and growing dividend yields

Focused Absolute Value®

Value oriented portfolio of all cap equity holdings

December 1, 2021

When the Fund Stops: The untold story behind the downfall of Neil Woodford, Britain’s most successful fund manager

David Ricketts

Former U.K. star fund manager Neil Woodford built his reputation and track record on three key events: his large investment in beaten-down tobacco stocks in the late 1990s, his avoidance of the dot-com crash, and the financial meltdown in 2008 and 2009. The success clearly went to his head and his Equity Income Fund strayed into illiquid, private companies that were in sectors beyond his circle of competence. The ‘Oracle of Oxford’ had up to two-thirds of his Equity Income Fund in unlisted securities and a big weight in the biotech industry (which rarely pays any sort of a dividend). There is a lesson here for all aspiring stock-pickers: stick to your knitting and remain humble and intellectually honest throughout an investing career

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