Link Fund Solutions criticised for role in Woodford suspension - reports

'Fell asleep' at the wheel

Link Fund Solutions has been accused of "falling asleep" at the wheel over its role in overseeing the suspension of Neil Woodford's eponymous Equity Income fund, according to the FT.

The criticism of Link came to light over the weekend, as it was revealed the firm played an instrumental part in the closures of two other high-profile UK fund closures in its previous guise as Capita Fund Management (CFM) over the past decade. CFM had been ACD for both Arch Cru in 2009 and Connaught Income in 2012, for which it was fined £66m and publicly criticised. Connaught Income went into liquidation, losing investors £118m. In its role as authorised corporate director (ACD) for Woodford's - and others' - funds, Link is supposed to ensure funds stick to the rules; in Woodford's ...