Neil Woodford, the star fund manager who lost around £300m yesterday following a dramatic drop in the share price of UK sub-prime lender Provident Financial Group, has maintained the confidence of fund buyers — but is under pressure to prove he has not lost his edge.
Woodford, who is one of the UK’s most successful stock pickers, yesterday came out in defence of his investment in the Bradford-based FTSE 100 company after its shares plummeted by as much as 73%.
