例句：The decision came just as the firm moved to expand its commitment to real estate investing, even though the US mortgage market was already starting to implode. 作出上述决定之际，该公司正要扩大房地产投资，尽管当时美国抵押贷款市场正开始内爆。
On Tuesday morning, the administrator of the flagship Woodford Equity Income Fund abandoned an attempt to relaunch the frozen investment vehicle and transferred its ?3bn of assets from Mr Woodford to be liquidated.
周二上午，旗舰基金——伍德福德股票收入基金(Woodford Equity Income Fund)的破产管理人放弃了重启这一已被冻结的投资工具的企图，并从伍德福德手中接管基金的30亿英镑资产，准备进行清盘。
② liquidated ['l?kw?,det] adj. 已偿付的; v. 清偿; 清理（liquidate的过去式）
例句：Debt is always liquidated. The only question is how you liquidate debt. 债务总会被清偿，唯一的问题是你会怎样偿还。
In an initially angry response, Mr Woodford said the decision by Link Fund Solutions was “one I cannot accept, nor believe is in the long-term interests [of investors]”.
伍德福德在最初的愤怒回应中表示，Link Fund Solutions的决定是“我无法接受，也不相信符合（投资者）长期利益的”。
Photo credit: Getty Images
However, on Tuesday evening Mr Woodford threw in the towel, resigning from the Woodford Patient Capital Trust and his Income Focus Fund, effectively ending three decades of managing outside money.
然而，到了周二晚，伍德福德决定放弃，从伍德福德耐心资本信托基金(Woodford Patient Capital trust)和伍德福德收入聚焦基金(Woodford Income Focus Fund)辞职，实际上结束了30年的外部资金管理生涯。
“We have taken the highly painful decision to close Woodford Investment Management,” he said. “I personally deeply regret the impact events have had on individuals who placed their faith in Woodford Investment Management and invested in our funds.”
Mr Woodford became a household name during 26 years at Invesco where he turned ?1,000 invested into more than ?25,000. But he was later known for a reckless investment style, piling into illiquid and unquoted stocks, which led to the destruction of his clients’ savings.
The Equity Income Fund was suspended in June after being crippled by relentless redemption requests and investment losses, sparking the biggest crisis in the European fund management industry in a decade and an investigation by the UK’s Financial Conduct Authority.
例句：Redemption was for Nietzsche not a deliverance from sin, but a total affirmation of life, with all its pain, suffering and absurdity. 救赎对尼采来说不是从罪恶中得以解脱，而是对生活的彻底肯定，包括其中的痛苦、折磨和荒诞。
Problems at the fund stemmed from its exposure to stocks that cannot easily be bought or sold. Link had tried to reposition the fund with a view to reopening it in December but decided that not enough progress had been made to allow it.
“This collapse is on a par with the implosion of New Star at the height of the financial crisis, and it will shake the funds industry to its core,” said Adrian Lowcock, head of personal investing at Willis Owen, the investment platform, referring to the 2008 crash of John Duffield’s fund management group.
The Equity Income Fund had continued to generate fees for Mr Woodford, with ?8m coming since its suspension. His main revenue generator had then been the Woodford Income Focus fund, which has halved in size since June, shrinking to just ?252m. At that level it generates about ?1.5m in annual fees, a tenth of the ?12m in salary and pension costs in Woodford Investment Management’s latest accounts.
As recently as the 2018 financial year, Woodford Investment Management received ?78m in revenue.
Peter Brunt, an executive at the fund data group Morningstar, said Mr Woodford faced an existential crisis. “WIM’s sole revenue source, management fees, has been significantly diminished in line with its assets — it has not received a fee on its investment trust for years and is no longer receiving a fee on its former flagship fund.”
BlackRock has been mandated to sell liquid holdings and some illiquid investments, accounting for roughly two-thirds of the ?3bn in assets, while PJT will attempt to sell the private and illiquid assets.
The hundreds of thousands of investors trapped in the fund are likely to incur significant losses and any return of capital is not expected until next year.
Mr Woodford spectacularly fell out with the board of WPCT in the summer after he sold ?1m of personal shares he owned in the trust and did not inform them for three weeks. Several of his long-term allies have also recently left the board. Its share price has tumbled more than 60 per cent this year.
Separately, WPCT had been hunting for a new manager to replace Mr Woodford. WPCT shares tumbled 10 per cent to a fresh all-time low on Tuesday. Analysts at Stifel, the investment bank, said WPCT’s board needed to appoint a new manager “as a matter of necessity” and the trust also moving to a “run-off” phase was more likely.
The value of assets managed by Mr Woodford peaked at more than ?15bn two years ago.
The FCA, which has been criticised for not acting sooner over the Woodford crisis, said Mr Woodford’s sacking removed uncertainty. “Winding up the fund will allow the return of money to investors through a number of distributions, likely to begin in January 2020.”