Link Fund Solutions Limited, who are the authorised corporate directors of LF Woodford Equity Income Fund, have made the decision to wind up the fund as soon as possible.
The fund has been suspended since 3rd June this year and, following discussions with the Financial Conduct Authority (FCA), it has been agreed that the wind up will likely commence in January 2020 as there is not sufficient recovery of the fund to warrant it remaining open.
This means that Woodford will cease to be the investment manager of the fund immediately and Link have appointed Blackrock to redistribute part of the fund’s holdings in a bid to get investors’ money back as soon as possible – hopefully by the end of January 2020.
In addition to the closure of the fund and the removal of Woodford as the investment manager, Neil Woodford has announced that Woodford Investment Management will also be closed entirely once its outstanding responsibilities have been fulfilled.
We would like to assure our Clients that we have no Client funds invested in this fund. However, if the recent news articles are causing you to worry, please do give us a call on 01489 877 547 and we can arrange for one of our Advisors to talk to you.
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