U.K. Labour Politician Exits Woodford Fund Before Gates Shut
- Jonathan Mendelsohn is a member of Britain’s House of Lords
- Comes as Neil Woodford barred his investors from fund exit
Photographer: Shaun Curry/Financial Times/REA via Redux
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The British Labour politician Jonathan Mendelsohn exited his investments in two funds run by embattled money manager Neil Woodford before the firm barred investors from withdrawing their money from its flagship fund.
Mendelsohn’s interests in Woodford’s main LF Woodford Equity Income Fund and Woodford Income Focus Fund ceased on June 1, according to U.K. parliament records. The politician still holds an investment in a listed fund, Woodford Patient Capital Trust. Once among the U.K.’s most celebrated money managers, Woodford stunned investors by saying on Monday that he’d frozen redemptions from the flagship fund.