Access full content on the Portfolio Adviser site, access your saved articles, control email preferences and amend your account details Marshall, who co-founded Marshall Wace with Ian Wace, said investors should not have to pay for a fund manager’s incompetence in managing liquidity, The Times reports. He said he was referring to equity funds rather than property funds and that his criticism could be applied to Neil Woodford. Woodford Investment Management came under fire for continuing to charge full fees on the Woodford Equity Income fund when it suspended in June 2019.