Investors Stay Shut Out As Woodford Fund Extends Freeze

Law360, London (July 2, 2019, 12:45 PM BST) -- Investors locked into Neil Woodford’s £3.7 billion ($4.6 billion) equity fund must wait at least another 28 days to get at their money, as the company appointed to operate the fund insists the extended suspension is in their “best interests.”

Link Asset Services, the fund’s authorized manager, said the open-ended Woodford Equity Income Fund will continue to be frozen to all its investors, who have been locked out for a month. Investors in the fund are not able to sell, cancel or redeem their shares.

Link, which is appointed by the Financial Conduct Authority to operate the fund and oversee its...

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