Woodford Investment Management (WIM), the Oxford-based investment management firm established by Neil Woodford and Craig Newman in 2014, is to cease operations.
This follows its sacking as manager of the suspended LF Woodford Equity Income Fund (WEIF), an authorised UK open-ended investment company (OEIC) with around £3.03 billion of client funds under management.
“We have taken the highly painful decision to close Woodford Investment Management,” Mr Woddford said in a statement released on 15 October.
”We will fulfil our fund management responsibilities to Woodford Patient Capital Trust (WPCT) an...