Neil Woodford, manager of the £9.2bn CF Woodford Equity Income fund, has said the stockmarket has become very "narrowly-led" and "hysterical", as he described a "very painful" period for his fund's performance.
The veteran fund manager (pictured) apologised for the Equity Income fund's recent performance, which has fallen 7% in the last three months to 6 September versus a 0.61% fall for the IA UK Equity Income sector and a similar decline for the FTSE All-Share, according to FE. A number of Woodford's holdings have made the headlines over the summer period, with AstraZeneca down 16% in a day after suffering a major setback in one of its drug trials, while Provident Financial plummeted nearly 70% in one day after the company issued its second profit warning in three months, which the manager sa...
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