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Woodford Mired Deeper in Crisis as Loyal Backers Turn Away

  • An early backer accounting for 40% of assets severs ties
  • Rare fund freeze also attracts scrutiny of U.K. regulators
Bloomberg business news
Rare Fund Freeze Attracts Scrutiny of U.K. Regulators
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Neil Woodford, “the Oracle of Oxford,” is watching his long, storied career crumble with alarming speed.

A mere two days after Woodford -- perhaps Britain’s most celebrated stock-picker -- stunned the world of finance by halting withdrawals from his flagship fund, his reputation is in tatters. The unraveling gathered pace on Wednesday as some supporters distanced themselves, with one key client who accounted for about 40% of assets at Woodford’s firm severing ties.