Woodford: The market was right to worry about China

Manager remains cautious

Neil Woodford said recent volatility in China has not forced him to change his portfolio, but investors were right to worry about the "substantial" risks facing the Chinese economy.

The manager (pictured) said recent volatility in the country has not led to any changes in the strategy of his £6.9bn Woodford Equity Income fund, but has solidified his long-held caution around the economy. "The risks facing the Chinese economy are substantial and the market was right, in my opinion, to start to worry more about them, albeit belatedly," Woodford said. "But although the market correction implies that the risks are now discounted more appropriately, it does not mean they have gone away, far from it." The manager said some parts of the global markets could continue t...