Update: Evershed signed agreement to keep fund open

Patrick Evershed's case against former employers New Star took another turn today after it was revealed he signed an agreement to keep his fund open despite its increase in size.

Following an appraisal meeting, Evershed admitted he signed an agreement which stated his fund would remain open. At the hearing for constructive unfair dismissal bought by Evershed, it was revealed Evershed signed an appraisal form on 11 December 2007 in which one of the terms stated 'the fund will remain open'. However, defending his actions, Evershed said despite giving his signature he disagreed and was 'bullied' into keeping the fund open. 'I was at the time asked if I thought there were opportunities in the micro-cap space and with the market's steep decline, I thought it was...