December 18, 2019 / 10:49 PM / a month ago

Woodford meeting Chinese investors for early-stage assets - source

Dec 18 (Reuters) - Veteran British money manager Neil Woodford is now looking to expand his presence in China, a person familiar with the matter said on Wednesday, months after he was forced to suspend his flagship equity fund.

Woodford, along with fund manager Craig Newman, is meeting Chinese investors who are interested in early-stage assets, the person said.

The person added that Woodford has been co-investing with a number of Chinese investors for several years.

Woodford, a fund manager who was a favourite of retail investors after he performed well during the financial crisis, is now facing widespread scorn in the United Kingdom.

In June, Woodford barred investors from taking cash out of his flagship LF Woodford Equity Income Fund as it ran out of cash to pay back those seeking to leave after a period of underperformance.

Investors are now expected to get just over half of their money back in January.

Bloomberg was the first to report Woodford’s China plans. (Reporting by Akshay Balan in Bengaluru; Editing by Maju Samuel)

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