The red flags signalling a fund manager may have lost it

Are fund managers too big to fail? No. If they fall below market expectations, they shrink through natural sales. In Neil Woodford's case, that process of re-balance was complicated by technical issues around liquidity and fund rules. It was not expected, but it was always a possibility. TAM is a funds of fund manager, and its job is to sort 'the wheat from the chaff'. Avoiding the sink holes is essential; spotting them early is key.

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