Woodford calls Equity Income fund's transparency 'damaging'

Woodford launched the Equity Income fund with much fanfare around the fact full portfolio holdings would be listed on the company's website. However, Woodford said this has now been to its detriment, explaining: "When we set Woodford up five years ago, we felt our investors would value the information that we were able to provide. "I think what we underestimated is how our full portfolio transparency would become more damaging in a period of underperformance. In essence, the transparency became more damaging than the value it created for our investors. That's why we've withdrawn...