Non-professional investors should not be able to access Long-Term Asset Funds (LTAF) in order to prevent another Woodford debacle, the Association of Investment Companies has warned.
The warning comes following a report from Research in Finance, which revealed that 86% of investors in the former Woodford Equity Income fund (now LF Equity Income) suffered a negative impact on their finances as a result of the June 2019 suspension. Woodford investors remain in limbo until 2022 at earliest A further 53% reported a negative impact on their general wellbeing, which has left 77% of former investors with less trust in the investment industry than they had before. The LTAF is currently under consultation from the Financial Conduct Authority and aims to create a structu...
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