Neil Woodford's new boutique believes its investment in Atom Bank "could deliver high returns", despite the manager himself voicing fears over the banking sector earlier this year.

The fund management heavyweight has avoided the banking sector in recent years, referring to it as "troubled" in a blog post in August. Woodford announced in the blog that he would sell all his shares in HSBC - the only banking name he held - amid fears it would be stung by regulatory fines.