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Neil Woodford’s Listed Trust Considers Replacing Him as Manager

  • Trust’s board is meeting with a range of third-party managers
  • Woodford sold 60% of his holding in trust to help pay taxes
Updated on

Neil Woodford’s listed investment trust is considering replacing him as portfolio manager, deepening a career crisis that began when the stock picker stunned the financial world by freezing his flagship fund last month.

The board of Woodford Patient Capital Trust Plc is meeting with a range of fund managers and looking at all options, according to a company statement on Monday. The trust’s shares have plunged 31% since Woodford locked down his main fund after a run of poor results led to mounting redemption requests, driving the trust’s market value down to 468 million pounds ($576 million).