Trapped Woodford investors face £10m wind up cost

Dismantling Neil Woodford's Equity Income fund could cost investors trapped in it an additional £10m, its administrator has revealed. In a letter to investors, sent yesterday (January 29), the fund's administrators Link Fund Solutions said £10.3m had been put aside for or already spent on transaction, brokerage, legal and audit fees involved in the fund's closure. Nearly £5m of this has gone towards costs already accrued from October 15, 2019 — when it was announced the fund would be wound down — while £5.3m has been provisionally set aside for future costs. Link Fund Solutions sai...