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UK investors see some payment from stricken fund

By John Smith • Published: 13 Dec 2019 • 20:00

The FCA agrees to closure Credit: Shutterstock

When he set it up, British investment manager Neil Woodford quickly attracted £10 billion (€11.5 billion) in funds but as profits dropped, so investors left quickly.

By June of this year, things were so dire that all remaining funds were frozen and Mr Woodford was removed from his post.

Now, the Financial Conduct Authority (FCA) has approved a request to wind up the fund and investors will be told next month how much their initial payment will be.

Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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