Exclusive – Neil Woodford to launch comeback firm as he says: ‘I’m sorry for what I did’

Neil Woodford has broken his silence on the collapse of his investment firm and revealed he plans to start all over again in a tearful and defiant interview. Alongside his lieutenant Craig Newman, Mr Woodford is now preparing to launch a new investment firm based in Jersey, Woodford Capital Management Partners but vowed not to repeat his mistake of investing ordinary investors’ cash in illiquid start-ups, who were cut off from their money for months due to a shortage of cash. Britain’s most famous fund manager, now its most famous failed fund manager, finally cracks under questioning about the allegedly macho culture at Woodford Investment Management. “What I was responsible for was two years of underperformance – I was the fund manager, the investment strategy was mine, I owned it, and it delivered a period of underperformance.” But he is furious at the company’s administrator Link Fund Solutions for closing Woodford Investment Management and insists, after everything, he would have been vindicated had it stayed open. They were Link’s decisions.” One final meeting A 4pm meeting on a Monday in October marked the end for Woodford Investment Management.