LF Equity Income Fund was at the centre of the Woodford scandal and has now handed back over £2.26bn to investors since the fund started to wind up in January.
Neil Woodford used to be known as an UK-based star investor until a series of bad bets saw the value of the LF Equity Income Fund, which was previously named LF Woodford Equity Income Fund, plummet from £10.2bn to £3.7bn.
He was later fired from the fund, which had had calls from many investors to get their money back. That process is now seemingly underway.
Link Fund Solutions, the authorised corporate director of the LF Equity Income Fund, started to wind up the fund on January 18. Link Fund Solutions considered the winding-up of the LF Equity Income Fund to be in the best interests of all investors.
Since January, the LF Equity Income Fund has returned £2.267bn to investors in the form of two capital distributions: one of £2.124bn in January and a second £143.2m one in March 2020, according to the Financial Conduct Authority (FCA).
Following a sale of healthcare assets, a third capital distribution of £183.15m will be paid on or around 26 August 2020.
The FCA also reported that Link Fund Solutions is still working selling its remaining assets. Further to the August capital distribution, subsequent payments will be made when suitable amounts of cash have been generated from this sale.
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