Fund Manager Neil Woodford Announces Comeback With Biotech Fund
Sun, 14th Feb 2021 10:39
(Alliance News) - Neil Woodford, the star City fund manager who fell from grace when his Woodford Equity Income Fund was wound up, has apologised for his actions as he announced he will be setting up a new firm.
The billion-pound fund was gated in June 2019 after a run of poor results led to an investor exodus.
But as Woodford and his team had bought stakes in so many unlisted companies, selling the assets was extremely difficult.
It was later wound up and Link Fund Solutions, which has sold off assets from the fund to return cash to investors, started paying out last January.
Caroline Shaw: Investors who abandoned value will be sorry they didn’t stay
Courtiers head of fund management on UK Equity Income’s comeback and an ex-Woodford stock’s surprising performance
Courtiers head of fund and asset management Caroline Shaw is stepping into the new year with renewed optimism as beleaguered UK value stocks start to regain some of their shine.
The Courtiers UK Equity Income Fund is now top-quartile in its IA UK Equity Income peer group on a three- and six-month view, as well as over three and five years. During the past three months alone, the fund has returned 32.2% – more than double the 14.9% sector average.