Woodford IM to restructure as AUM exceeds £14bn

£11.3m profit in first year

Woodford Investment Management has applied to change its legal status to a limited company, after its assets under management reached £14.3bn at the end of last year.

The company, which is currently a limited liability partnership, said the change would allow it to manage its capital more efficiently, provide a more flexible legal structure and improve corporate governance. A spokesperson for the company said: "After two years of excellent growth, we have made an application to the FCA to change our legal status from an LLP to a limited company. "The change will allow the company to manage its capital more efficiently, provide a more flexible legal structure and benefit from improved corporate governance." Woodford stops charging investors for r...