Source: British House of Commons News
15 October 2019
It has been announced today that the Woodford Equity Income Fund will be liquidated, with Neil Woodford ceasing to be its investment manager with immediate effect.
Interim Chair’s comments
Commenting on the announcement, Catherine McKinnell MP, Interim Chair of the Treasury Committee, said:
“This appears to the beginning of the end of a sorry state of affairs. This will have been a troubling time for investors in the Woodford Fund, who may not get any money back until at least January.
“If it hasn’t doesn’t so already, surely now the fund should waive its fees.
“There is still some time to go in this uncomfortable episode, which has raised important questions about the functioning of the funds industry. I’m sure the Committee will want to examine what lessons can be learned from this saga.”