Neil Woodford’s Return Defies Darwinism
Investors wary of reputational risk will think twice about investing with this controversial stock picker.
Making a comeback.
Source: Woodford Investment Management
Neil Woodford, the storied U.K. fund manager who spectacularly crashed 16 months ago, is planning a comeback. If he’s successful in persuading investors to make him the steward of their money once again, it will defy economic Darwinism.
Woodford was forced to close his eponymous firm in October 2019 after the administrators of his flagship fund dismissed him as its manager. He’d allocated more and more funds to unlisted and smaller stocks in an effort to turn around the dismal performance of his portfolios. When too many investors demanded their money back in June 2019, he had to suspend redemptions, leaving thousands of small and institutional investors and about 3.5 billion pounds ($4.9 billion) trapped.