Has Hargreaves Lansdown done enough in wake of Woodford fallout?

Caught in crossfire following Equity Income fund suspension

Natalie Kenway
Investment Week acting editor Natalie Kenway

Investment Week acting editor Natalie Kenway

The fallout from the suspension of the LF Woodford Equity Income fund has not only had far-reaching consequences for the Woodford Investment Management business, but also for the fund manager's backers; namely Hargreaves Lansdown.

Since the news broke that Woodford - in conjunction with ACD Link Fund Solutions - had decided to suspend trading on the flagship fund on 3 June following increased levels of redemptions, much of the blame has been laid at the door of the platform giant. Hargreaves Lansdown has been described as a "heavy backer" of Woodford with reports indicating Hargreaves' customers account for about £2bn of Woodford's £10bn under management (Financial Times, 11 June). The group's HL Multi-Manager range has a total of 6.2% invested in the Equity Income fund ranging from 2.6% to 12.4% weightings in ...

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