William Fox Bregman

Partner, Solicitor & Head of Banking and Finance Litigation

DATE PUBLISHED: 25 Mar 2020 LAST UPDATED: 23 May 2022

Woodford Equity Income (WEIF) – Second Payment to be paid to Investors

It has been reported that WEIF administrators Link Fund Solutions notified investors of the fund on 20 March 2020 that they will received the second pay-out from their investment this week. It is thought that the second sell off of the portfolio’s assets has raised £143.2 million for investors.

This means that investors will receive between 3.1p and 3.9p per share, the value will depend upon who was involved in the fund’s distribution and whether or not the investor was in accumulation or receiving an income on their investment.

Hargreaves Lansdown investors in accumulation and receiving income will get 3.97p and 3.26p per share, meaning those with the former, in Z share class will be receiving the highest return. Many other platforms hold C share class, these investors will receive 3.95p per share if in accumulation and 3.25p per share if receiving income.

Hargreaves have allegedly negotiated a lower management fee directly with Mr Neil Woodford, the fund’s original manager which meant that less of it’s clients cash was invested into the fund house and therefore more will be returned to the customer.

The second payment will bring the total cash to have been returned to clients to approximately £2.3 billion; however an estimated £700 million is yet to be sold. The remaining assets are comprised of the most illiquid holdings which are still in the process of being sold off, meaning investors are still in the dark as to their total losses.

If you have incurred losses as a result of investment in the Woodford Equity Income Fund or would like to seek advice in relation to your investment our specialist Banking and Finance solicitors can assist you with an assessment of your potential claim and advise you on the best option for seeking damages or compensation.

If you would like to explore the possibility of making a claim please call William Fox Bregman on 01202 057740 for a preliminary review of your potential claim. Alternatively email William.foxbregman@ellisjones.co.uk wil

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