Woodford Investment Management has agreed in conjunction with its authorised corporate director (ACD) Link Fund Solutions (LFS) to suspend trading on the Equity Income fund amid "increased level of redemptions".
A statement posted on the Woodford IM website said the fund would be suspended from issuing, cancelling, selling, redeeming or transfering shares within the fund with immediate effect. The move was "in the best interests of all investors in the fund", the company said, and aimed to protect them "by allowing Woodford, as previously communicated to investors, time to reposition the element of the fund's portfolio invested in unquoted and less liquid stocks, in to more liquid investments". This follows reports last week the Woodford Equity Income had seen its total assets fall by £560m t...
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