Lfs considers the winding up of the weif to be in the best interests of all investors and. Letters regarding the suspension and winding up of the fund.
In october 2019 link confirmed the 3bn fund would be wound up with cash returned to investors as soon as possible.
Woodford equity income fund. According to data compiled by scm the investment company run by prominent campaigner gina miller woodford had as much as 40 per cent of the equity income fund invested in assets that were not. Link fund solutions which runs the. Woodford was sacked on tuesday morning from his 3 1bn equity income fund which will be wound up in an effort to return cash to investors more than four months after its shock suspension.
Lf woodford equity income fund a sub fund of lf woodford investment fund an investment company with variable capital the fund. The woodford equity income fund was suspended in june 2019 following an increase in redemption requests which couldn t be readily met. Lf equity income fund a sub fund of lf investment fund an investment company with variable capital the fund investor communications.
Worse still investors still had to pay fees despite being unable to access their money. Neil woodford s equity income fund which has locked in investors money since june will never reopen after it was revealed that it will be wound up. However by may 2019 withdrawals were averaging 9m a day and the fund was suspended on 3 june 2019 trapping 3 7bn of investors money.
At its peak in may 2017 the woodford equity income fund held a record 10 7bn of investors money. On 15 october 2019 link fund solutions ltd lfs the authorised corporate director acd of the lf woodford equity income fund weif announced that it will not seek to re open the weif and instead it will look to wind up the fund as soon as practicable.