Woodford saga: Industry believes there is light at the end of the tunnel for investors trapped in fund
FCA inquiry will not report this year
Woodford interviewed by investigators probing fund collapse
The Financial Conduct Authority s ongoing investigation into the collapse of the Woodford Equity Income fund has been slow but investors stuck in a limbo might be closer to getting answers, according to industry experts.
In a letter to MPs, the regulator s chief executive Nikhil Rathi said officials have spoken to 14 witnesses and all key interviews are now complete.
Moira O Neill, head of personal finance at interactive investor, said: Today s update from the FCA is short on clarity for the investors who have already been left in at best limbo and at worst in financial misery, for two long years.
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Neil Woodford is to set up another investment firm over a year on since his flagship equity fund was shut down due to liquidity issues that left many investors out of pocket.
ACD Link refutes Woodford accusations over former Equity Income fund
Industry appetite for new fund slim
Neil Woodford s return to asset management has not been roundly welcomed
Link Fund Solutions, the authorised corporate director (ACD) of the former Woodford Equity Income fund, has hit back against manager Neil Woodford s claims that he had no role in the suspension and eventual liquidation of his failed fund.
In a statement, a spokesperson for LFS said any suggestion that Woodford Investment Management (WIM) was not aware of the possibility of suspension, or did not engage in discussions concerning the decision.
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By IPE Staff2021-02-08T13:40:00+00:00
The ACCESS local authority pension asset pool has grown to £31bn (€35.3bn) after the operator of the collective investment scheme launched seven new sub-funds that drew £5.5bn from participating pension funds.
The operator, Link Fund Solutions Limited (LFS), launched the funds in November and December. They invest in a range of global equities and bonds and include the LF ACCESS Global Alpha Equity Fund and LF ACCESS Sterling Aggregate Bond Fund managed by Bailie Gifford, and the LF ACCESS UK Equity Fund managed by Majedie Investments.
Councillor Mark Kemp-Gee, chair of the ACCESS joint committee, said the committee had worked closely with LFS to select the fund managers “so they can deliver the cost savings and investment performance required as part of our successful track record since the launch of the pool”.