The LF Woodford Equity Income fund was the flagship product of Woodford Investment Management. Launched in 2014, it was considered one of his most successful products.
At its peak, the Equity Income fund managed £10.2bn worth of assets, with local authority pension funds among them.
In June 2019, after a run of poor performance and massive outflows, trading in the fund was suspended. In the four weeks leading up to the fund's suspension, investors had withdrawn about £560m from it.
The fund was subsequently removed from recommended buy lists. That October, the fund - along with Woodford Investment Management - closed down for good.
Woodford Equity Income's investment process has become "structurally impaired" following its suspension, according to Morningstar's Peter Brunt.