Star manager returns

Woodford plans comeback with biotech fund

Neil Woodford

Sorry: Neil Woodford apologised for fund collapse

Neil Woodford, whose fund collapsed spectacularly in 2019, is aiming to resurrect his career with a new Jersey-based venture.

Woodford Capital Management Partners will focus on the biotech, British biosciences and healthcare sectors.

Initially it will focus on raising money from professional investors, which tend to adopt more long-term strategies.

The Woodford Equity Income Fund crashed in June 2019 after a run of poor results led to a loss of faith among investors.

As the former ‘star manager’ and his team had bought stakes in so many unlisted companies, selling the assets proved difficult.

The fund shrank from a reported £10.2 billion to £3.7bn and was wound up.

Link Fund Solutions, which sold off assets to return cash to investors, began paying out last January.

In an emotional interview with The Sunday Telegraph Mr Woodford said he did not want events in 2019 to be “the epitaph of my career”.

He said the new fund would not be putting ordinary investors’ cash into illiquid start-ups.

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