Woodford Equity Income could remain gated 'until June' as fund drops 20%

The Woodford Equity Income fund (WEIF) could remain shuttered for a further six months, according to head of personal investing at Willis Owen Adrian Lowcock.

Manager Neil Woodford is battling to offload assets to meet redemptions once the fund reopens, currently slated for December, with the fire sale of more liquid assets reaching £1bn so far. Lowcock told The Telegraph Woodford "still had a way to go" to meet the anticipated high level of redemption requests the fund is likely to see when trading resumes. "The last thing you want is for the fund to open and then be forced to close again," Lowcock said, adding that a suspension beyond December was "entirely possible. "Link has to do certain things and follow regulations. Setting the De...