Good morning: The troubled Woodford Equity Income Fund, which has been frozen since June, is to be wound up, the fund’s administrator announced this morning. Link Fund Solutions added that Neil Woodford would cease to be the investment manager of the fund with immediate effect. He generated stellar returns for investors during 26 years at Invesco, which he left to set up Woodford Investment Management in 2014. He has struggled in recent years, however, after a number of his investments soured and rattled investors pulled their money. Link Fund Solutions froze the fund on June 3 when it was unable to meet a flood of redemption requests.

Source: The Times October 15, 2019 08:03 UTC