Woodford criticises Link's decision to wind up Equity Income fund

'Best interest' of investors for closure

Neil Woodford said Link Fund Solutions' decision to wind up his Equity Income fund was "one I cannot accept".

Link said it was in investors' best interests that the fund be wound up on Tuesday (15 October) morning, in a letter to investors. It said the process of repositioning the portfolio into more liquid FTSE 100 stocks had "unfortunately not been sufficient to allow certainty as to when the repositioning would be fully achieved and the fund could be reopened". The winding up process will begin on 17 January 2020. However, in a statement, the fund's former manager Woodford said: "This was Link's decision and one I cannot accept, nor believe is in the long-term interests of LF Woodford E...