Link Fund Solutions criticised for role in Woodford suspension - reports

'Fell asleep' at the wheel

David Brenchley
Neil Woodford of Woodford Investment Management

Neil Woodford of Woodford Investment Management

Link Fund Solutions has been accused of "falling asleep" at the wheel over its role in overseeing the suspension of Neil Woodford's eponymous Equity Income fund, according to the FT.

The criticism of Link came to light over the weekend, as it was revealed the firm played an instrumental part in the closures of two other high-profile UK fund closures in its previous guise as Capita Fund Management (CFM) over the past decade. CFM had been ACD for both Arch Cru in 2009 and Connaught Income in 2012, for which it was fined £66m and publicly criticised. Connaught Income went into liquidation, losing investors £118m. In its role as authorised corporate director (ACD) for Woodford's - and others' - funds, Link is supposed to ensure funds stick to the rules; in Woodford's ...

To continue reading this article...

Join Investment Week

  • 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

Join now


Already an Investment Week


More on Funds

Bestinvest's bi-annual Spot the Dog finds over £45bn is still in underperforming portfolios

Bestinvest's Spot the Dog finds fewest underperformers in six years

Number of dog funds more than halves

clock 08 August 2022 • 4 min read
The £237m Baillie Gifford British Smaller Companies Fund was rated as not providing value.

Baillie Gifford UK equity strategies suffer low ratings in AoV

One red and four amber funds

clock 08 August 2022 • 2 min read
Royal London group chief executive Barry O'Dwyer

RLAM AUM shrinks 9% in H1 but sustainable funds remain popular

9% decline in AUM

clock 05 August 2022 • 2 min read