Woodford Equity Income to be wound up

The fund, which has been shuttered since 3 June due to a liquidity crisis, was slated to reopen in December after manager Neil Woodford had repositioned his portfolio into more liquid FTSE 100 stocks. The process had been ongoing, but Link said it "has unfortunately not been sufficient to allow certainty as to when the repositioning would be fully achieved and the fund could be re-opened". The wunding up process will begin on 17 January 2020. As a result, the authorised corporate director of the fund said it has "concluded that it is now in the best interests of all investors fo...