By Nigel Somerville | Tuesday 15 October 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
A late-in-the-evening RNS from Woodford Patient Capital (WPCT) announced this evening that Woodford Investment Management has resigned as fund manager to the trust. And we have now learnt that Woodford Investment Management is to be closed down. Stripped of its fee income from Woodford Equity Income (WEIF), from which Neil Woodford was announced as having been sacked early this morning, as both Tom Winnifrith and I pointed out, Woodford Investment Management (WIM) was no longer viable (we got there first on that one as well). Now he has thrown in the towel on that too: WIM is to be closed down. Bring out the ouzo again!
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