Trading has been suspended at Woodford Investment Management's flagship Equity Income Fund, after one of the biggest failures in fund management history. The fund is run by Neil Woodford, the UK's most high-profile fund manager. Client withdrawals have been put on hold to allow Woodford to manage the existing positions and offload illiquid positions. This will mean more client withdrawals can take place. But what happened to cause this disaster? In this video, The Duomo Initiative explains the situation in 3 minutes.