Kieran Smith comments on the WEIF collapse
The Woodford Equity income Fund (WEIF) was the flagship fund of the larger Woodford Fund portfolio, managed by former investment guru, Neil Woodford. While the WEIF was run by Woodford and his team, it was managed and supervised by a company called Link Fund Solutions.
Link were ultimately responsible for protecting investors and ensuring that Woodford and his fund managers invested savings in accordance with the fund’s rules.
Following a series of significant losses, the fund was suspended in June 2019 and eventually wound up in October 2019.
The FCA announced that it would be investigating the fund’s collapse.
You would be forgiven for thinking that 300,000 investors losing an estimated £1bn of...