Fidelity blocks investors from buying Woodford Income Focus fund

Can still sell

Fidelity International has blocked investors from putting new money into the Woodford Income Focus fund, which has been affected by the suspension of the flagship Woodford Equity Income fund.

While Fidelity Personal Investing customers will still be able to withdraw money from the Income Focus fund, they are now prevented from buying new units. The Woodford Patient Capital investment trust is not affected by Fidelity's decision. Earlier this month the Woodford Equity Income suspended trading due to a vast swathe of redemptions. The Income Focus fund remains open, but has consequently seen outflows in the fallout from the gating, with assets falling from £500m to £325m.   A Fidelity spokesman said: "FundsNetwork has decided to restrict new investments in the LF Woodford ...