Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
The latest update from Link does little to ease the pain for embattled investors stuck in the Woodford Equity Income fund with the news that the winding up of the fund could still be happening in another 12 months, meaning that over 2 years would have passed since the fund originally suspended. This is of course dependent on Link being able to offload the remaining £288m that they have confirmed is left in the fund which may be challenging given market conditions are being severely impacted by coronavirus.
Investors have also learned that they have had to shell out c£15.5m in fees to BlackRock, Park Hill and lawyer Debevoise & Plimpton to facilitate the selling down of the assets that will surely stick in the throat of all investors who have been waiting patiently to get some of their money back. While these fees would have been due regardless of who was selling the assets, seeing such sums will make for painful reading for investors. The one element of positive news is that the sale of some assets to Acacia is proceeding with completion hopefully done by the end of November. Link are then hoping to make a fourth distribution to investors soon after this time.
Read the latest update for investors in the former Woodford Equity Income fund.
These articles are for information purposes only and are not a personal recommendation or advice.
Written by:
Ryan Hughes
Managing Director - AJ Bell Investments
Ryan Hughes is Managing Director of AJ Bell Investments. He has over 25 years’ experience across a variety of roles covering investment research and fund management, working in a range of companies spanning financial advice through to global asset management. Ryan joined AJ Bell in 2016 and in 2024, he was made Managing Director of AJ Bell Investments. Ryan is a member of the CFA UK Society and has been recognised as one of the leading fund researchers in the UK.
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