Launch comes two years after implosion of his latest company following bets that went wrong

The investment manager Neil Woodford has revealed plans to launch a new fund less than two years from the implosion of his last company following a string of bets that went wrong.

In a dramatic return for the former star stock picker, Woodford plans to open a new investment firm, Woodford Capital Management Partners, which would be based in Jersey and focus on managing money from professional investors rather than retail clients.

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