Opinion  

The ripple effect

Dan Jones

Dan Jones

That leaves the second-order issues like the role of fund distributors. There have been calls for a crackdown on direct-to-consumer platforms’ best-buy lists, but to do so shortly after the FCA gave the sector a relatively clean bill of health in last year’s platform market study would prove a little embarrassing. 

Ultimately, although the Woodford saga is not yet proving a systemic issue for UK investors, it remains a serious reputational problem for active management, and investment in general. That damage could linger across all parts of the industry for a long time to come.