The winding up of the Woodford Equity Income fund has been described as "a mess", and will "shake the funds industry to its core", potentially spelling the end for Woodford Investment Management, according to commentators.
The surprise decision by Link Fund Solutions to wind the fund up was in the best interest of investors, the ACD said. However, Woodford disagreed, as does Darius McDermott, managing director of Chelsea Financial Services. McDermott said the decision, seemingly taken without consultation with WIM, "does seem a little odd and out of the blue, especially with Brexit possibly just days away". He added that he did not think it was necessarily the case that investors would get their money back quicker if the fund was wound up than if they waited for the fund to re-open. He continued: "Th...
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