Woodford investors to get first cash back on Jan. 20
LONDON, Dec 13 (Reuters) – The hundreds of thousands of investors trapped in the LF Woodford Equity Income Fund, formerly managed by Neil Woodford, are expected to get a first payout on or around Jan. 20, the fund’s administrator said on Friday.
Trading in the fund was initially suspended in June after it ran out of cash to pay back investors seeking to leave after a period of underperformance, before being wound up by Link Fund Solutions Limited in October.
Link Fund Solutions said in a letter to investors that Britain’s regulator had approved its plan to wind up the fund, with a final valuation of assets set to take place on Jan. 17.
It said it had changed the name of the fund to LF Equity Income Fund. (Reporting by Simon Jessop; editing by Carolyn Cohn)
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