Reaction: Woodford IM could be on its last legs
Equity Income fund to be wound up
Woodford's Equity Income fund had been shut since 3 June
The winding up of the Woodford Equity Income fund has been described as “a mess”, and will “shake the funds industry to its core”, potentially spelling the end for Woodford Investment Management, according to commentators.
Woodford Patient Capital trust, of which Woodford Equity Income holds 10% of shares, saw its value tumble by 9.8% in the wake of the news. It was trading at just under 34p a share as of 11.30am, representing...
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