Costly Woodford Equity Income fund wind-up to 'drag on' for up to a year

Costly Woodford Equity Income fund wind-up to 'drag on' for up to a year

Woodford Investment Management (WIM) amassed approximately £24.8m* in fees during the Equity Income fund's (WEIF) suspension. Between 3 June when the fund was gated and 15 October when ACD Link Fund Solutions announced WEIF would be wound up, the fund took £184,034.22 a day in fees. In an investor update on 15 October, Link Fund Solutions (LFS) said the fees would remain in place until the process to wind up the fund begins on 17 January 2020. However, while there will be no change...

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