The fall in the value of Neil Woodford’s Woodford Equity Income fund has drawn the attention of the regulator Tom StockillNeil Woodford, the fund manager has come under further pressure after investor withdrawals and struggling investments knocked £560 million from his main fund. The assets in the Woodford Equity Income fund slumped to £3.77 billion from £4.33 billion last month, according to data compiled by Morningstar, the research company. The value of the fund reached a high of £10.2 billion in May 2017 but has dwindled since then as investments have gone awry and investors have taken fright and pulled their money. This month is the twenty-third that the fund has been hit by redemptions. The decline is another blow to Mr Woodford, 59.He spent a quarter of a century at Invesco where he gained a reputation for generating blockbuster returns for investors.

Source: The Times May 30, 2019 16:07 UTC