Morningstar: Investors exit Woodford Income Focus in June

Fallout from fund suspension continues

The Woodford Income Focus fund (WIFF) lost a third of its assets in the month of June alone, as investors continued to flee from funds managed by Neil Woodford, according to data provider Morningstar.

Investors pulled £151m out of WIFF last month, as its total assets slumped to under £300m. The news compounded what was a bad month for Woodford, who saw his flagship LF Woodford Equity Income fund (WEIF) gated on 3 June and shares in his closed-end Woodford Patient Capital Trust (WPCT) fall by 30%. Overall, outflows from equity funds slowed significantly to £566m, with a slowdown in Standard Life Investments' Global Absolute Return Strategies also helping alternatives stem their outflows, which were the lowest seen for a year at £749m. Link allows trapped Woodford investors share cla...