SIPP providers could see cap ad increase as Woodford Equity Income considered 'non-standard'

Link Asset Services, Woodford Equity Income Fund's (WEIF) authorised corporate director, recently announced it was likely the fund would remain suspended until December. In an investor letter, Link Asset Services said keeping the fund gated until December would provide "a realistic amount of time for Woodford to complete a measured and orderly re-positioning of the fund's portfolio". The suspension of the fund means that it is no longer liquid and, according to the Financial Conduct Authority (FCA), in the case of SIPPs, a non-standard asset is one that can be accurately valued and re...