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Tom Richardson

Celebrity fund managers on the nose as alternative models soar

Tom RichardsonJournalist

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ASX-listed Link Group’s bill for letting celebrity UK fund manager Neil Woodford walk all over it in the United Kingdom is at least $449 million, being the value of its impairment declared on Monday.

The investment funds administrator is still seeking a deal with the UK financial services regulator for closure of an investigation into oversight failings related to the 2019 collapse of the $6 billion Woodford Equity Income Fund (WEIF) and has generally stated it will defend class actions being led by UK lawyers against it.

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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/celebrity-fund-managers-on-the-nose-as-alternative-models-soar-20230221-p5cm5n