- Woodford’s Equity Income Fund has declined from about £10 billion ($13 billion) to about £3.7 billion after a rash of investors pulled their money.
- The fund has frozen redemptions because it is not liquid enough to meet its clients’ demands for their cash.
- Woodford invested in too many illiquid, private, unlisted stock offerings.
- The so-called “secondary” market for private equity isn’t as liquid on the way down as it is on the way up, sources tell Business Insider.
The collapse of Neil Woodford’s £10 billion ($13 billion) investment fund has given us a glimpse of what the market might look like if — read more >>>