BlackRock (BLK) Tops Q3 EPS by 6c

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Neil Woodford sacked as flagship Equity Income Fund to be shut

October 15, 2019 3:10 AM EDT

By Simon Jessop, Sinead Cruise and Carolyn Cohn

LONDON (Reuters) - Neil Woodford has been ousted from his flagship LF Woodford Equity Income Fund which will be shut down to pay back investors whose money has been trapped since June.

Trading in the now 3 billion pound ($3.8 billion) fund managed by Woodford, one of Britain's most high-profile money managers, was suspended four months ago after poor performance led to an increase in demand from clients to take their money back.

At the heart of Woodford's troubles was the scale of his holdings in unlisted or illiquid... More