‘No end in sight to the winding-up process’ for Woodford investors
interactive investor comments on LF Equity Income fund.
30th September 2020 17:59
interactive investor comments on LF Equity Income fund.
Commenting on the latest investor communication regarding the wind up of LF Equity Income Fund (formerly named LF Woodford Equity Income Fund) and publication of the fund’s 2020 report and accounts, Teodor Dilov, fund analyst at interactive investor, says: “There are no big surprises in the letter to shareholders. Investors of the beleaguered LF Equity Income Fund have had to be patient to claw back some of their cash. Their patience will be stretched further still as there appears to be no end in sight to the winding-up process of the fund – at least not in the near future.
“There remains a great deal of uncertainty as there is still a lot of money tied up in illiquid assets, but the past payouts is likely to be the bulk of what investors will receive.”
“While fees are an inevitable part of any liquidation process, the extent of the levies already paid is a kick in the teeth to investors.”
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