Investors are believed to be still liable for fees of up to 1.7% despite the suspension. Woodford was forced to temporarily close the fund after a steady flow of investors pulling out cash turned into a flood. But the sudden suspension blocked the council from withdrawing the funds, which account for about 4% of its £6.4bn pension fund investments. Invesco Perpetual confirmed that funds run by Woodford were among those that had breached investment limits between 2008 and 2012. Hargreaves Lansdown has removed both the suspended Equity Income Fund and the Income Focus Fund from its Wealth 50 list of favourite funds.

Source: The Guardian June 04, 2019 09:54 UTC