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Woodford Says He’s Shutting Down Firm After Ouster From Fund

Neil Woodford
Neil Woodford
Updated on

Woodford Investment Management is shutting down after its founder was dramatically ousted from managing a fund bearing his name.

Neil Woodford said in a statement Tuesday that he has “taken the highly painful decision to close Woodford Investment Management.” The firm terminated its agreement to serve as portfolio manager to the publicly listed Woodford Patient Capital Trust Plc, according to a regulatory filing.