{"id":10028,"date":"2019-10-22T14:06:40","date_gmt":"2019-10-22T14:06:40","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=10028"},"modified":"2019-10-22T14:06:40","modified_gmt":"2019-10-22T14:06:40","slug":"uk-investors-concerned-after-bbc-investigation-forces-fund-manager-to-resign","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/uk-investors-concerned-after-bbc-investigation-forces-fund-manager-to-resign\/","title":{"rendered":"UK Investors Concerned After Another Fund Manager Resigns"},"content":{"rendered":"

\"MarkInvestors in the UK<\/a> have had a tough time recently as the industry has been shaken by a couple of high profile fund failures. Recently, Neil Woodford<\/strong>, one of the country\u2019s star fund managers saw his high profile fund shutdown and thousands of investors are struggling to get back their investments. <\/p>\n

Now yet another fund manager is in hot water. The BBC One\u2019s Panorama<\/a> recently uncovered evidence that Mark Denning<\/strong> of the Capital Group was breaking investment rules, acquiring shares for his own benefit. This is a clear conflict of interest and has resulted in his resignation.<\/p>\n

When the BBC sent in the results of its investigation to Capital Group it caused an uproar and resulted in Denning resigning from the company five days later. Capital Group sent out a notice confirming that he was not connected with the company anymore. <\/p>\n

Denning acquired shares in the same companies as the funds he managed which was a clear conflict of interest as investing funds in these companies will boost share prices which he was acquiring on the side. This is a dangerous mode of operation as it can result in fund managers picking out investments for their personal benefit rather than better returns for their investors. <\/p>\n

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