Ten years ago, Neil Woodford was a revered fund manager, once dubbed the UK’s answer to Warren Buffett. Today, many investors remain furious over the 2019 collapse of his flagship Woodford Equity Income Fund, which once held a staggering £10bn in assets.

Investors like Ian Duffield, who lost over £100,000, describe Woodford as arrogant and egotistical, blaming him for breaking Financial Conduct Authority rules and deploying dubious investment techniques. Bryan Hall, who lost 80% of his £7,000 investment, echoes these sentiments, citing Woodford’s overconfidence and poor bets in illiquid assets.

The Financial Conduct Authority fined Woodford and his former firm £46mn last year, citing unreasonable investment decisions between July 2018 and June 2019. During this period, Woodford shifted toward less liquid assets, leaving only 8% of the fund sellable within seven days—far below regulatory requirements.

Critics, including former shadow chancellor John Mc Donnell, argue the collapse stemmed from systemic failures in oversight and governance, not ordinary market risks. Despite the passage of time, affected investors continue seeking legal redress and a public inquiry, as no investment rules have been revised post-collapse.