Hargreaves Lansdown - Woodford effect

HL has taken a significant hit with all the news surrounding Neil Woodford’s equity income fund issues, dropping 23% ish from its peak in May.
However, I don’t really see a shift in their fundamental business after this news; there will be some outflows but not significant enough to justify this drop, and certainly there has been no requisite uptick in AJ Bell shares who could be seen as their closest equivalent. While there is worry about fines regarding wealth 50 and relationship with woodford, there is no obvious legal breach here to hang a case/fine on - its basically poor active management.

Therefore, have HL’s shares been hit based off sentiment and not from a fundamental perspective? They are still pricey, with a PE of about 37, but a lot less than they were a month ago.

19 posts were merged into an existing topic: [On :freetrade:] Hargreaves Lansdown - £HL