- Two books delve into the events behind the collapse of Woodford Investment Management, and what we can learn from it
- Each can provide readers with fresh insights on the hazards of fund management
One of the most striking aspects of Neil Woodford's comeback plan might be its timing. When the disgraced fund manager told the Sunday Telegraph of plans to re-enter the industry a few weeks ago, hundreds of thousands of investors remained trapped in what was once the Woodford Equity Income fund. His reappearance has prompted a furious backlash, and calls for the long-awaited publication of findings from a Financial Conduct Authority (FCA) probe into the fund's demise.
The Woodford story is a convoluted one, but it can teach us valuable lessons about the risks behind investment funds and those who run them. So it is useful to see the recent arrival of two well crafted books on the subject: When the fund stops, by Financial News journalist David Ricketts, and Financial Times reporter Owen Walker’s effort, Built on a lie.