After Epic “Run on the Funds,” 10 More Real Estate Mutual Funds Shuttered as COVID-19 Batters UK Property Values by Nick Corbishley • Mar 20, 2020 • 83 Comments Triggered by the belated realization of the risks in mutual funds that offer daily liquidity but invest in illiquid assets.
WeWork Debris Hits Bystanders: Two More Real-Estate Mutual Funds “Gated,” This Time in Ireland. Fitch Warns of Contagion by Nick Corbishley • Feb 7, 2020 • 68 Comments “We regard liquidity mismatches as a major structural flaw.”
Another UK Mutual Fund Leaves Investors Twisting in the Wind by Nick Corbishley • Dec 4, 2019 • 30 Comments Another “run on the fund.” More investors can’t get their money out but contemplate big losses.
Redemptions Rip Through UK Equity Funds as Fallout from Woodford Collapse Grows by Nick Corbishley • Oct 28, 2019 • 23 Comments In funds with a liquidity mismatch, the First-Mover Advantage is huge, as Woodford’s investors found out.
Contagion from Liquidity Crunch at Junk-Bond Funds to Trigger “Material Second Round Effects”: EU Securities Regulator by Nick Corbishley • Sep 7, 2019 • 31 Comments The cost of dodging negative interest rates.
Woodford’s Shuttered Fund Crushed Further by Plunging Stocks in its Holdings, such as Muddy-Waters Target Burford Capital by Nick Corbishley • Aug 26, 2019 • 39 Comments Hedge funds have field day front-running the liquidation. 300,000 investors left twisting in the wind.
Liquidity Crunch Mangles UK Equity & Real Estate Funds by Nick Corbishley • Aug 24, 2019 • 43 Comments Exodus from funds with illiquid assets forces funds to block redemptions.
Another UK Fund Just Slammed its Doors Shut on Investors by Nick Corbishley • Jul 19, 2019 • 48 Comments This time, a fund liquidity crisis traps institutional investors, including pension funds.
Liquidity Crisis at Woodford Equity Fund Is Symptomatic of Systemic Problem, Bank of England Warns by Nick Corbishley • Jul 12, 2019 • 29 Comments $30 trillion of assets globally are held by similar open-ended funds.
Liquidity Fears Hit Other UK “Equity Funds” as Investors Remain Trapped in Woodford Fund by Nick Corbishley • Jul 8, 2019 • 31 Comments Shares of one fund plunged 22% on Friday. Other funds under pressure, raising serious questions about just how liquid “equity funds” in the UK are.
