The report reveals that Woodford’s victims have been “postponed for life” and will hurt the investment industry.
It has been reported that the collapse of Neil Woodford’s investment empire has hit the industry, with some victims quitting their lifetime investment.
Woodford’s loss of grace in 2019 disrupted his flagship equity income fund, causing significant losses to both Income Focus and the Patient Capital Trust.
However, according to a survey conducted by the Association of Investment Companies (AIC), more than half of the respondents said the Woodford case had a negative impact on their general well-being.
Neil Woodford’s loss of grace in 2019 disrupted his flagship equity income fund, causing significant losses to both Income Focus and Patient Capital Trust.
In total, 77% say they have lost confidence in the investment industry.
One rescuer said:’I lost a lot of my pension. It was also disappointing to encourage my daughter to invest in a fund. It postponed her investment in life.
Another said he had to work for another two years to make up for the loss of investment.
And yet another said: “It left me very angry and helpless.”
Woodford’s equity income fund was worth £ 3.7bn when investor funding was locked up in 2019.
They have lost at least £ 1.3 billion in the last two years alone.
Woodford victims say they have been “postponed for life,” the report said.
Source link Woodford victims say they have been “postponed for life,” the report said.