Woodford suspends trade in flagship fund as woes for U.K. fund manager mount

Woodford Investment Management has been hit by a pair of setbacks this week as the pressure mounts on the high-profile U.K. fund manager to deliver better returns to investors.

On Monday, Woodford announced it suspended trading in its flagship Woodford Equity Income Fund due to a spike in redemptions that the fund's corporate director, Link Fund Solutions Ltd., concluded the fund could not meet. At April 30, the fund's assets under management had shrunk to £4.3 billion ($5.6 billion), a drop of about 40% from just nine months prior and well below the 2017 total of £10 billion ($13 billion)...