Woodford’s fund falls below £7bn

BELEAGUERED stock-picker Neil Woodford has seen his fund fall below £7bn for the first time since 2015 amid concerns his crown has slipped.

Assets in the equity income fund had dropped to £6.6bn by the end of March, down from their all-time high of £10.2bn just ten months earlier.

The 58-year-old has made a series of disastrous bets on firms such as doorstep lender Provident Financial, which has slumped 78pc in the past year. Large investors including John Chatfeild-Roberts of Jupiter Asset Management have pulled cash out of Woodford’s funds as his star has waned, further adding to his woes.