Following the announcement that Woodford Investment Management is to close, Link Fund Solutions, the administrator has announced that dealing in the LF Woodford Income Focus fund is suspended with immediate effect.
Link said it would take the suspension period to consider its available options. These include appointing another investment manager, merging it into another fund or winding the fund up.
"Whilst LFS considers these options, Woodford has committed to continue to work collaboratively with LFS in its capacity as the appointed investment manager of the fund" it said.
Link is aiming to lift the suspension as soon as it has decided the best course of action and it would review the suspension "at least every 28 days", though it expects to write to investors with an update within the next 14 days.
Please find below a link to the letter issued to investors by Link Fund Solutions Limited concerning the position of the LF Woodford Income Focus Fund:
We will keep you updated as more information is released.
- uploaded - 16 October 2019