Woodford unveils fund fees and sets June launch date

Neil Woodford is to launch his long-awaited equity income fund at the start of next month with a flat fee structure that will see his firm absorb admin costs.

Woodford (pictured), whose new venture is now up and running following the recruitment of a range of managers and support staff, will launch his new Woodford Equity Income fund on 2 June. The offer period for investors will run from 2 June to the 19 June, and the fund will start trading on 20 June after the offer period closes. It will launch with four separate share classes, each of which will levy an ongoing charge that absorbs administration costs (ex turnover fees). The 'A' share class will have an AMC and ongoing charge of 1%, the 'C' class will charge 0.75%, the 'Z' class 0.6...