HL CEO 'angered' by Woodford saga; Reiterates calls for fees to be waived

Woodford Equity Income fallen in value by 5%

David Brenchley
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Neil Woodford of Woodford Investment Management
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Neil Woodford of Woodford Investment Management

Hargreaves Lansdown's CEO Chris Hill has said it is "angered by the lack of resolution" over the ongoing suspension of the LF Woodford Equity Income fund, and criticised fund manager Neil Woodford for not informing the platform the fund had breached UCITS limits on unquoted positions on a number of occasions.

The fund was suspended on Monday 3 June under a constant stream of outflows, as liquidity of the underlying holdings plummeted. CEO of Hargreaves, the platform which has been one of Woodford's biggest backers, said on its website on Thursday it shared customers' frustration they could not access their investment in the Woodford fund. The statement also revealed the value of the fund has fallen by 5% since the last time it was tradable on Friday 31 May, according to Link Fund Solutions, the fund's Authorised Corporate Director. Has Hargreaves Lansdown done enough in wake of Woodford...

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