Leading UK fund manager Neil Woodford issued a further update this week following the decision to suspend all investor dealing in the LF Woodford Equity Income Fund until December.
The decision has been made to continue the suspension of investors dealing in the fund, this is to ensure investors’ interests are protected. It also allows Neil and the team the required time to execute the changes to the portfolio in order to deliver the best possible outcomes for investors.
A statement from Neil:
“In discussion with Link, we can now confirm that we anticipate the fund re-opening in early December as we navigate through the changes to the portfolio previously articulated.
I understand the frustration, inconvenience and anxiety the continued suspension of the fund will be causing you and I am extremely sorry for putting you in this situation. Since our last update a month ago, we have made progress with our strategy to reduce our exposure to unquoted and less liquid stocks with our primary focus being on delivering the best possible outcomes for investors in the fund.”
For frequently asked questions and answers, find out more here.