Woodford’s Woes Hurt Active Managers Fending Off Passive Funds
- Active managers are ceding ground to index tracking funds
- Woodford froze redemptions on his flagship equity money pool
Photographer: Rosie Hallam/eyevine/Redux
This article is for subscribers only.
Neil Woodford’s troubles gives advocates of passive investing another reason to slam actively managed funds.
Once one of the U.K.’s most famous stock pickers, who made a name for himself over the past three decades, Woodford cracked under redemption pressure last week and locked investors out of his main fund following months of poor returns. Since then, Woodford’s loyal backers have bailed on him and he has come under fire from politicians, regulators and investors.