The boss of Britain’s biggest stockbroker last night issued a grovelling apology for its role in the Neil Woodford furore that has seen thousands of savers blocked from accessing their nest eggs. Clients of the investment ‘supermarket’, which was founded by two British entrepreneurs in Bristol 38 years ago, have invested around £2 billion in funds run by Mr Woodford. ‘I would like to apologise personally to all clients who have been impacted by the recent problems with the Woodford Equity Income Fund,’ he said. Mr Woodford, who became renowned as a star fund manager after a series of stock-picking successes over three decades, launched his Equity Income Fund in 2014. ‘Short-sellers’ have targeted a series of Mr Woodford’s favoured stocks, including construction giant Kier, housebuilder Barratt Developments and We Buy Any Car owner BCA Marketplace.

Source: Daily Mail June 08, 2019 23:37 UTC