Investors have pulled almost half a billion pounds from the flagship equity fund run by Neil Woodford this year, as the struggles of one of the UK’s best-known stock-pickers show little sign of abating.

Data from Morningstar reveals that clients withdrew a net £126.2m from the Woodford Equity Income fund in April. Although this was less than the £159m registered in March it means net outflows for the year-to-date now total around £450m.