Broker Worried Over Woodford Fund Since 2017, CEO Says

Law360, London (June 19, 2019, 9:52 PM BST) -- Hargreaves Lansdown has revealed that nearly a quarter of its clients have more than £1.6 billion ($2 billion) combined trapped in Neil Woodford’s suspended equity fund, claiming in a letter to lawmakers published Wednesday it first raised concerns about the fund’s exposure to unlisted assets 18 months ago.

The chief executive of Hargreaves Lansdown has told a parliamentary committee that nearly a quarter of its clients have more than £1.6 billion ($2 billion) combined trapped in the suspended fund. (AP) Chris Hill, chief executive of Hargreaves Lansdown, said in a letter to the influential parliamentary Treasury Committee that the online stockbroker...

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