What does this
mean for customers invested in the Woodford Equity Income fund?
We will calculate your clients’ share of the money sent to us by LFS and
move it to another fund called the Artemis Income Fund. This fund has been chosen because it
closely matches the characteristics of the LF Woodford Equity Income Fund.
We’ll continue to do this as, and when, we get more money from LFS. We
will complete each switch transaction into the Artemis Income Fund within a
week of the funds being received. These will be effective from our date of receipt. We will confirm the switches by sending a
fund switch statement each time.
For clients invested in the mutual fund directly through their self-invested
policy we will retain it in the cash account until we receive instructions from
you or your clients. We will write to you once this is in your clients’ cash
account.
We will continue to update you as and when LFS release further
investments.
There will continue to be restrictions on policy transactions for as
long as your client has investments in the LF Woodford Equity Fund, and we’ll
contact you/them where appropriate.
Where can I find out more?
Further information can be found by visiting the Link Fund
Solutions website.
You can always contact us if you have any questions. You can
also view details of the funds your clients’ are invested in online. To do this
you’ll need to be registered for our online services. Registering is easy, just
visit our registration page.
Please note that the date
and amounts quoted above are estimates and may change.