Link pushes date of investors' first back payment from stricken Woodford Equity Income

On or around 30 January

David Brenchley
clock
Neil Woodford
Image:

Neil Woodford

The date investors trapped in the Woodford Equity Income fund will receive their first capital distribution once the fund’s winding up process has begun has been pushed back to 30 January, Link Fund Solutions said.

In a letter to unitholders, Link said the winding up process was still on track to begin on 18 January, with the final valuation of the fund's assets before the process continues happening on 17 January. However, they changed the date investors would receive their first payment to "on or around 30 January", from "on or around 20 January". Those invested through fund platforms, such as Hargreaves Lansdown, would receive their payment a few days after this date "due to the time it may take for your platform to process your payment", Link noted. BlackRock offloads £1.7bn of 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
member?

Login

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
Trustpilot