Seven eye-catching trades by Britain's top fund managers

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Neil Woodford sells HSBC

Neil Woodford, one of Britain's most highly regarded fund managers, has sold his stake in HSBC, the bank.

The sale raised eyebrows, as Mr Woodford, who usually buys and holds shares for several years, bought into the company only a year ago.

Mr Woodford had avoided bank shares for over a decade before returning to the sector. He said HSBC was the only bank he trusted.

But he felt this trust had become misplaced and sold his holding amid fears the lender could be the next in line to be hit with a multi-million pound fine from the regulator.

Mr Woodford said he would sooner invest his money in companies that did not have "unquantifiable risks" hanging over them.

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