Chair of the Treasury Committee Nicky Morgan has called for Woodford Investment Management to waive the fees on Woodford Equity Income while the fund is suspended.
Morgan stepped into the furore following the suspension of the fund on Monday following reports that manager Neil Woodford is continuing to take management fees amounting to £100,000 a day. Hargreaves Lansdown announced on Tuesday (4 June) it had dropped its platform fee on the Woodford Equity Income fund while dealing was suspended with immediate effect. "Investors in the Woodford fund have been locked out of accessing their cash. Yet it has been reported that Mr Woodford is taking in nearly £100,000 in management fees a day," Morgan said. "The suspension of trading has provided M...
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