A legal expert has warned "investors will see the value of their investment plummet" as a result of the Woodford Equity Income fund's suspension of dealing, leaving Woodford Investment Management open to legal challenges from clients.
Woodford Equity Income confirmed it suspended dealing on Monday (3 June) as a result of high levels of redemptions, but Investment Week can confirm it has not suspended the valuation of the fund's assets. The moment of truth: What next for Woodford after Equity Income fund suspension? A spokesperson for Woodford Investment Management confirmed that the suspension only applies to "buying and selling", while "daily pricing continues and income payments made in normal way". Partner at law firm Howard Kennedy James Kaufmann said this decision means "investors will see the value of thei...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
