Nick Train: Woodford fallout has been damaging to us

Could damage active management industry

The liquidity crisis at Woodford Investment Management will damage active management and further encourage advisers and wealth managers to use passive products to gain access to equity markets, according to Nick Train.

The fallout following recent events regarding high-profile stockpicker Neil Woodford, which was sparked by the gating of his flagship LF Woodford Equity Income fund, has seen a plethora of negative headlines encompassing Woodford himself and one of his biggest backers Hargreaves Lansdown (HL).  It has also led to many in the industry, including Baillie Gifford's James Anderson, to worry about the impact it will have on the asset management industry. Woodford calls Equity Income fund's transparency 'damaging' as fund suspension continues Train also harbours those fears, writing in a...