Some investors trapped in the LF Equity Income fund, formerly managed by Neil Woodford, have yet to receive a letter detailing how much they would receive from the first capital distribution from the proceeds of the winding up process, an Investment Week poll has revealed.
The fund's ACD Link Fund Solutions outlined how much investors will receive per unit held in each of the nine share classes on Tuesday (28 January), amounting to between 46p and 59p. The distribution was slated to be paid "on or around 30 January", or a few days later for those invested through a platform. However, a Twitter poll run by Investment Week showed more than two-thirds, or 69%, of the 16 votes cast had not received a letter by Thursday (30 January) afternoon, with 31% saying they had. Link and Invesco reported to have sold down Honeycomb shares The fund is set to pay £2....
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
