Woodford investors potentially in limbo for further 12 months

Liquidation fees have risen to over £15m

Investors languishing in the gated, and now renamed, Woodford Equity Income fund could be forced to wait a further 12 months to get their money back, following the latest update from the fund’s administrator Link Fund Solutions.

At the same time, the latest update revealed investors were having to front costs of £15.5m in fees for BlackRock, Park Hill and law firm Debevoise & Plimpton. As of 1 September 2020, the fund's remaining assets were £288m but Link has confirmed it is confident of making a fourth distribution after a bulk of remaining assets are liquidated in November. Law firm considers compensation claims against Woodford ACD Link The fund, which was renamed LF Equity Income last year, is split into two portfolios. Portfolio A, comprising listed securities, was overseen by BlackRock and h...