Rosemount IFA

Our News

Woodford Investment Management - Suspension Extension

23rd September 2019

Link Fund Solutions Limited (Link), the Authorised Corporate Director of the LF Woodford Equity Income Fund has formally reviewed the suspension of the fund. Link previously indicated that it was anticipated that the suspension of dealing is likely to last until early December 2019 while the portfolio of assets held by the fund is re-positioned. Link have decided that it remains in the interests of all investors for the suspension of dealings to continue.

Click here» to read the announcement.

Woodford Investment Management - Letter to Investors

30th June 2019

A letter has been written to investors giving an update onthe fund. Click here» to read.

Changes with Woodford Investment Management Limited

6th June 2019

By now many of you will be aware that, following a high level of investor withdrawals, Woodford Investment Management Limited has suspended dealing in the LF Woodford Equity Income fund until further notice. Until this suspension is lifted it will not be possible to buy or sell units in this fund.

This suspension is intended to protect the remaining investors in this fund by allowing the manager time to arrange for the orderly disposal of some of the unquoted and less liquid holdings and their replacement with more liquid investments.

To avoid a forced sale of holdings at heavily discounted values, we expect the dealing suspension to remain in force for a matter of weeks rather than days.

Although regrettable, we agree this is the best course of action to protect investor interests. In the meantime, for those that require money from their portfolios, withdrawals can be financed from the sale of other holdings. For those that are investing regular amounts in this fund, it will be necessary to select an alternative.

I appreciate this may be disconcerting for many of you. However, I would point out that there is no suggestion of any illegality or wrongdoing on the part of the investment manager. Our understanding of the situation is that, to boost potential returns, the fund manager had made full use of a regulatory “allowance” for investment in unquoted holdings and, following a spike in investor withdrawals, was in danger of breaching this limit. The dealing suspension will prevent this breach occurring, and also afford the fund manager the time to re-position the portfolio into more liquid assets.

As a regulated UK collective fund, the LF Woodford Equity Income fund is subject to substantial supervision and oversight by the regulator and other parties. This ensures that your assets will be protected even if, ultimately, the fund has to be formally wound-up.

Please refer to the link below for an update from Neil Woodford himself:

We will keep you informed of further developments as they occur.

Raising Funds for “Reuben Birin School for the Deaf” in Africa.

30th May 2019

On Wednesday 15th May, Rosemount sponsored a golf afternoon held at Romford Golf Club where clients and friends were looking to raise funds for the Reuben Birin School for the Deaf.

The school is located just outside Port Elizabeth South Africa and in March this year it was burgled and set on fire, over half of the classrooms were totally destroyed by Fire.

Our Friend Graeme Whale (PGA of South Africa) and two of his colleagues teach the children how to play golf, this helps them greatly in their lives and gives them enjoyment, an additional benefit for the youngsters is that it has been proven to help those children who have serious balance issues.

Things being as can be in South Africa the local government have no funds to repair the school, it could take a minimum of two years before they get to that point, so Graeme asked us if we could help him raise funds to help with this rebuild.

His aim is to raise 1,000,000 Rand, if nothing happens it is likely that the school will close and these children will have no access to the education that they need, a terrible consequence of that attack by vandals.

Following an afternoon Golf competition we had a meal and an Auction of golfing memorabilia and other fine prizes, during the event our generous clients had raised almost £11,000 based on current exchange rates that is almost 20% of Graeme's target.

Once collected these funds will be sent to South Africa to help begin the process of the rebuild.

Many thanks for the very generous donations made by our clients to help this worthy cause.

We have shown some pictures of the school so that you can see the devastation and the prize winners receiving their prizes from Graeme Whale and Andy Arthur.

Reuben Birin School for the Deaf
Reuben Birin School for the Deaf
Reuben Birin School for the Deaf
Reuben Birin School for the Deaf
Reuben Birin School for the Deaf
Reuben Birin School for the Deaf

Macmillan Coffeee morning by Rosemount

Rosemount's Coffee Morning for Macmillan

4th October 2017

In aid of Macmillan Cancer Support, Rosemount joined in with the “World's Biggest Coffee Morning!”

Many of the Rosemount team took part and spent their time baking some delicious cakes for everyone to enjoy, and needless to say they did not last long. The cakes baked varied from a traditional Victoria sponge cake to individually made chocolate sausage dogs. The results looked amazing!

Rosemount are proud to confirm we raised £224.00 which will help support the biggest fundraising event for people facing cancer.

“Macmillan Cancer Support is a charity that is very personal to many, as most people know or have known someone with cancer, whether this be a colleague, acquaintance, family or friend”. As reported by Macmillan, one in three of us will face cancer, and the money raised will help Macmillan ensure no one has to face it alone.

Gemma - Practice Manager “I would like to thank everyone who took part in baking these amazing cakes and also to everyone's contribution to this event. It was very successful and we very much look forward to taking part in future events for charitable causes”.

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