More setbacks for Woodford as suspension extended

Neil Woodford's Woodford Investment Management was dealt a fresh pair of blows on Monday as the firm's flagship Woodford Equity Income Fund had its trading suspension extended until early December, while Woodford's second largest fund gave notice it was contemplating replacing Woodford as the fund's portfolio manager.

In a letter to investors on Monday, the fund's corporate director Link Fund Solutions Ltd. said trading in the Equity Income Fund would likely remain suspended until early December to allow Woodford to sell the fund's private holdings. The fund had originally been suspended for 28 days starting in early June, and extended a further 28 days in July...