Bank of England boss Mark Carney warns Neil Woodford to axe investment fund fees 

Mail Online | 7/11/2019 | Lucy White City Correspondent For The Daily Mail
Click For Photo: https://i.dailymail.co.uk/1s/2019/07/12/00/15943944-0-image-a-12_1562888759992.jpg

Bank of England Governor Mark Carney has thrown his weight behind calls for Neil Woodford to axe fees at his scandal-hit investment fund.

It came as the bank warned that funds pose a threat to the global economy, as they could cause a panic if investors are unable to get their money back.

Mr - Woodford - Markets - Month - Equity

Mr Woodford stunned the markets last month by closing his Equity Income Fund after running out of cash to pay departing customers. It is now selling assets to free up money so it can reopen.

But the company is still raking in fees of almost £100,000 every day from savers who cannot access their nest eggs.

Andrew - Bailey - Head - Financial - Conduct

Andrew Bailey, head of the Financial Conduct Authority (FCA), last month said that the fund manager should ‘consider his position’ on fees in a comment seen as a...
(Excerpt) Read more at: Mail Online
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