Neil Woodford is not solely to blame for the "disappointing" recent events relating to his flagship Equity Income fund, believe fund selectors, with the warning signs seeming to have been ignored for some time.
Expressing a degree of sympathy with Woodford Investment Management, commentators have laid responsibility at the hand of the Financial Conduct Authority (FCA), large platforms that "over-promoted" the fund, ratings agencies, advisers and investors for blindly following the herd without fully interrogating the fund's underlying exposure. Sam Lees, head of research at FundExpert, said the suspension was not a shock, given the fund's structure. "Who is to blame?" he added. "It's not Neil Woodford. He was just doing his job. He might have been doing it badly, but he didn't force anyone to b...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
