Neil Woodford’s empire imploded as it tried to meet redemptions ALAMYThe administrator that oversaw the closure of Neil Woodford’s Equity Income fund has trained its sights on three other funds that also hold hard-to- trade stocks. Link Fund Solutions is understood to be closely monitoring Gresham House’s UK Micro Cap and Miton’s UK Multi Cap Income and UK Smaller Companies funds, according to people close to the situation. Fund managers are under pressure to make sure they can trade stocks if investors want to withdraw their money, after Woodford’s empire imploded last year as it tried to meet redemptions. Smaller companies and those not listed on the stock market are tougher to sell when withdrawal requests pile up. Gresham House’s fund, which manages £192m worth of assets, has returned 8.5% over the past year — in…

Source: The Times January 05, 2020 00:00 UTC