When Neil Woodford launched his eponymous investment firm five years ago the star fund manager attracted billions of pounds of inflows and soon boasted the top performing UK equity income fund.
However, despite the spectacular start from Mr Woodford, who had built up a big investor following from his two decades at Invesco, all was not as it seemed. After Woodford Investment Management secured approval from the Financial Conduct Authority in May 2014 and launched the Equity Income Fund the following month, problems that would lead to the fund’s dramatic suspension this month are alleged to have already been surfacing behind the scenes.
