At 23:31 on 19 April, the Financial Conduct Authority sent out a press release detailing the “significant redress” it had negotiated for investors trapped in the former LF Woodford Equity Income fund, James Baxter-Derrington writes...
This marked the first sighting of the end of the tunnel for investors who have been unable to withdraw their cash from the fund for 1,417 days and counting. Those last two words are key. There is no definite timeline for when investors are due to receive their share of the up to £235m, nor any guarantee they will ever see it. The amount is carefully caveated across every release from the Financial Conduct Authority (FCA), Link Group and Link Fund Solutions, with the figure never appearing without "up to". This is because the figure is tied to several factors that cannot be confi...
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