Woodford Equity Income has seen its total assets fall by £560m to below £3.8bn in less than four weeks as investors exit Neil Woodford's flagship fund amid a sustained period of poor performance.
The rapidly shrinking fund, which has fallen by around two-thirds from its 2017 AUM peak of £10.2bn, has drawn the attention of investment heavyweights and regulators alike, according to the Financial Times. The £187m of withdrawals since the end of April primarily follow Morningstar's decision to downgrade the fund from "bronze" to "neutral" last week, with May becoming the 23rd consecutive month of redemptions. Woodford to cut unquoted holdings in £4.3bn Equity Income fund to zero About £373m of the monthly decline is attributed to the weak trading performance of the fund's under...
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