The Financial Conduct Authority’s revelation that it aims to deliver up to £235m in redress to investors in the former Woodford Equity Income fund has been welcomed by industry experts, but the process is far from over.
The move should be cause of "significant relief" for investors, according to Ryan Hughes, head of investment partnerships at AJ Bell, noting investors have been "very patiently waiting for some form of compensation". He added it has now been 1,417 days since WEIF was suspended on 3 June 2019, the closure of which was announced on 15 October 2019, with formal winding down procedures beginning in January 2020. The redress would return investors 77p on the pound. FCA agrees up to £235m Woodford payout as settlement of Link Fund Solutions investigation Dzmitry Lipski, head of fund r...
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