It seems like there’s a new story every day about the dramatic implosion of Neil Woodford’s funds so I thought I’d create a thread to keep track of what’s going on. The saga began when he was forced to suspend his LF Woodford Equity Income Fund after too many investors withdrew their money.
Today’s news is behind a paywall unfortunately but if you register then you can get access to a free premium Telegraph story each week:
Patient Capital Trust’s lender, Northern Trust, has since agreed to give it greater borrowing flexibility while it works to dispose of certain unquoted assets, but demanded a veto over any new investments and a new rate of interest on the amount already drawn down in exchange.
Does anyone think that Woodford’s going to recover from this?