Wednesday 4 December 2019 12:32 pm

Woodford Income Focus fund stays suspended as administrators mull options

The administrators of Woodford Income Focus have delayed a decision over the fate of the suspended fund.

Link Fund Solutions has said it is in the “final stages” of deciding the fund’s future, aiming to choose a direction before the end of this year.

In a letter today, the group said that it is still continuing a review of possible options for the firm’s long-term viability.

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On 13 November, the group previously told investors that it expected “to confirm which of them [the options] we believe is in the best interests of investors in the next 21 days”.

Administrators froze the fund in October following the resignation of Neil Woodford as its manager, the formerly-lauded stockpicker who was sacked days earlier from his flagship Equity Income Fund (WEIF).

In its letter to investors today, Link said: “Suspension will cease as soon as possible following LFS’s determination of the course of action that is in the best interests of investors.”

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“LFS and the Depositary will formally review the suspension at least every 28 days since the decision to suspend the Fund and we will inform the FCA of the outcome of that review and any change to the information given to shareholders. This means we will write to you with a further update no later than 30 December 2019.”