Platform providers have dubbed Fidelity International's decision to block investors from buying into the Woodford Income Focus fund as "highly unusual" and "unprecedented" - despite claiming star fund manager Neil Woodford "is finished".
Fidelity announced this week that personal investors would no longer be able to buy new units in Woodford Income Focus, although they would still be able to withdraw money. Earlier this month the Woodford Equity Income suspended trading due to a vast swathe of redemptions. The Income Focus fund remains open, but has consequently seen outflows in the fallout from the gating, with assets falling from £500m to £325m. Jason Hollands, managing director at Tilney, said it should be up to the investor to decide whether to invest or not and for the ACD to determine whether dealing in a fund s...
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