FYI: Neil Woodford’s ouster from the fund bearing his name marks the conclusion of a stunning fall from grace that counts as one of the most dramatic in London’s financial history.
Managers are rarely fired from funds they are synonymous with. The closest parallel in recent memory is Bill Gross’s 2014 departure from Pacific Investment Management Co. after an acrimonious dispute over his management of the company he co-founded. But the unraveling of Woodford is different because it stemmed from a crisis that’s taboo in fund circles: A liquidity crunch.
By the end of the day, Woodford had bowed out and said he plans to close his investment firm: Woodford Investment Management.
Regards,
Ted
https://www.bloomberg.com/news/articles/2019-10-15/woodford-future-in-doubt-as-investor-s-ouster-caps-stunning-fall
