Neil Woodford’s £3.5bn equity fund set to be wound up

The UK’s best-known stockpicker, Neil Woodford has been removed from his flagship £3.5bn equity fund, which is set to be wound up with the cash being returned to its investors.

Woodford had planned to reopen the Woodford Equity Income Fund, but the administrator, Link Fund Solutions (LFS), said on Tuesday it was in the best interests of investors for it to be wound up immediately.

Link has continued to consider the future of the fund over the period of its suspension from 3rd June 2019 and then today decided not to re-open the fund.

Neil Woodford commented: “This was Link’s decision and one I cannot accept, nor believe is in the long-term interests of LF Woodford Equity Income Fund investors.”