One of the UK’s top stockpickers has said he is “extremely sorry” after suspending trading in his largest fund.
Neil Woodford stopped money going in or out of his Woodford Equity Income Fund on Tuesday after increasing numbers of investors asked for their money back.
The move was “necessary to protect investors’ interests”, he said.
A stockpicker – or fund manager – analyses the potential of different stocks to try to decide whether or not they will make a good investment.
Investors had withdrawn about £560m from the fund over the past four weeks.