'Woodford will need a miracle to survive: there will be a stampede'

Neil Woodford as a statue being toppled
Many believe this could be the end of the line for Neil Woodford

Neil Woodford’s career as a fund manager will not survive the turmoil that has engulfed his firm. This is the overwhelming consensus among experts in the fund management industry contacted by Telegraph Money.

Not only has Mr Woodford’s reputation taken a fearful battering since he suspended his flagship Equity Income fund last week, but his second-largest portfolio, Income Focus, which remains open, has suffered calamitous levels of withdrawals over the same period.

A key backer, fund shop Hargreaves Lansdown, sold a huge stake in Income Focus this week.

One fund manager said investors in the suspended Equity Income fund would “stampede” to withdraw their money when trading resumed, which is...

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