Investors currently stuck in Neil Woodford's LF Woodford Equity Income fund (WEIF) with Hargreaves Lansdown (HL) will be able to transfer their holdings to a rival investment platform, Link Fund Solutions has confirmed.
The decision comes after interactive investor CEO Richard Wilson wrote a letter to the Treasury Select Committee on Tuesday (9 July) criticising Link, WEIF's authorised corporate director, for rejecting HL customers' attempts to switch. Wilson said he believed the issue concerned those investors holding the ‘Z' share class of WEIF, which was exclusively available on HL's platform. HL was the only investment platform that managed to negotiate a fee discount from Woodford Investment Management, with its rivals offering customers the ‘C' share class. It was a decision he said "appears to...
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