Neil Woodford has continued his attempt to return to the world of investing, with the disgraced fund manager now seeking capital in the Middle East, according to reports.
The manager has reportedly been spotted in the region, while business partner Craig Newman has supposedly set up shop in Dubai, trying to gauge investor interest in the slated WCM Partners venture, according to The Telegraph.
Woodford himself was spotted in Riyadh, seeking to raise the profile of his new fund, and has also been speaking with City investors who "continue to sing his praises - but remain less than enthusiastic about now trusting him with their money".
Woodford investors remain in limbo until 2022 at earliest
The former ‘Oracle of Oxford' first attempted to re-enter the industry in February of this year, when he publicly launched WCM Partners, which was initially incorporated in June 2020 as Active Capital Management, before adopting its current title in November 2020.
It was around this time that Woodford was spotted in China, having what would appear to be similar exploratory meetings with investors.
Since the February announcement, the UK's Financial Conduct Authority and the Jersey Financial Services Commission have both renounced the manager, with the duo stating they would share information on any application made by Woodford.
He has also incorporated companies in both the Cayman Islands and Delaware, although he has yet to apply for financial regulation in any jurisdiction.
Woodford has also been advising Acacia Research on its portfolio of life sciences companies it bought from the fire sale of the former Woodford Equity Income fund.
Woodford move proves: Shame has no geographical boundaries
The total value of the fund's investment in Oxford Nanopore recently surpassed the price paid for the entire 19-asset portfolio.
Authorised corporate director of the now LF Equity Income fund, Link Fund Solutions, is currently undergoing legal challenges from multiple firms.
