The Woodford Equity Income fund, which is currently heading into its fourth month of suspension, is "on track" to reopen in December as planned, according to Link Asset Services.
Link announced on Friday (23 August) that in its role as Authorised Corporate Director (ACD), alongside the fund's depositories, it had conducted its regulatory mandated monthly review of the suspension and a December end to the gating "remains achievable," but suspension must remain in place for now. Woodford Investment Management has been offloading assets during the suspension in efforts to overcome liquidity issues and meet investor redemption requests. However, it is understood that the fund has further breached UCITS rules regarding the proportion of unquoted stocks that c...
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