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Woodford flagship fund implodes as star fund manager axed

Neil Woodford axed as Woodford Equity Income Fund shut down; at its peak, WEIF had £10B in assets

Neil Woodford’s struggles have come to an acrimonious end as the once vaunted British investor has been removed as fund manager of his firm’s flagship fund, Woodford Equity Income Fund, which is to be shuttered and money returned to investors in January.

The announcement from Link Fund Solutions Ltd., the fund’s corporate director, brings to a close what has been a four-month run of terrible news for Woodford that has weighed down his other funds.

Woodford had been attempting to reposition the portfolio of the Woodford Equity

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