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Woodford Fund Freeze May Last to December as Blowback Builds

  • Stock picker apologizes to his investors for causing anxiety
  • Administrator: suspension needed for portfolio repositioning
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Photographer: Simon Dawson/Bloomberg
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Neil Woodford’s flagship fund may remain locked until early December, as long-time allies jump ship and pressure on the star stock picker intensifies.

“I understand the frustration, inconvenience and anxiety the continued suspension of the fund will be causing you, and I am extremely sorry for putting you in this situation,” Woodford wrote in a statement for investors. The lockdown, which is entering its third month, may have affected the price of some assets in the fund, but it hasn’t impacted their value, he said.