WPP updates on stewardship, governance and risk management in latest report
The new sub-funds will add £3.2bn to the LGPS pool
It has now been two years since Neil Woodford showed his last act of unqualified contrition, James Baxter-Derrington reports. Woodford apologised to investors as he and Link Fund Solutions agreed to suspend the soon-to-be doomed Woodford Equity Income...
FCA looking at "spirit of" rules
Access has onboarded another £5.5bn of Local Government Pension Scheme (LGPS) funds after launching seven sub-funds with Link Fund (LF) Solutions.
Investors languishing in the gated, and now renamed, Woodford Equity Income fund could be forced to wait a further 12 months to get their money back, following the latest update from the fund’s administrator Link Fund Solutions.
Link Fund Solutions has written to investors to confirm the amount and date of the third capital distribution to investors in the former Woodford Equity Income fund.
Link Fund Solutions (LFS) has agreed to sell "a significant portion" of the stricken LF Equity Income fund's holdings to US firm Acacia Research Corporation for up to £223.9m.
Investors in the LF Equity Income fund, formerly run by Neil Woodford, will receive 75.55% of the value of the assets of the fund in the first capital distribution, priced between 46p and 59p per unit they hold, Link Fund Solutions has said.
The Kent Pension Fund has reassured members that the closure of Woodford Investment Management will not affect its ability to pay benefits.