View the article online at http://citywire.co.uk/wealth-manager/article/a725133
Hargreaves Lansdown pushes for in specie Woodford transfer
by Eleanor Lawrie on Dec 20, 2013 at 10:20
'He has been a key member of the UK equities team for 17 years, with first-quartile performance over one, three and five years. As always, our primary focus is to manage the transition and continue to look after our clients’ best interests.'
Dampier drew attention to Patrick Evershed move from Rathbones to New Star 11 years ago as an example of where an in specie facility was offered to investors, although he acknowledged Woodford was a much bigger operation.
Back then, in what was a first for the investment industry, Rathbones and New Star co-operated with the Inland Revenue to ensure that transfers from Rathbone Special Situations to New Star Select Opportunities were not seen as a way to 'avoid' tax.
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