• 17 October 2019

    Important changes affecting Woodford funds

    On Tuesday 16 October 2019 we were notified that the LF Woodford Equity Income Fund which was previously suspended is being wound up from January 2020.

    We stopped trading in this fund when it was first suspended and contacted the small volume of Phoenix Wealth customers that were affected, or their financial advisers if they had one, to let them know what it meant for them. We are now considering how we can best support our customers and financial advisers who are affected by the fund being wound up, and will be updating them in due course.

    On Wednesday 17 October 2019 we received further information which informed that Woodford Investment Management Limited are going to close which means all funds under their management may also be affected. We are seeking to understand what this may mean and will contact any affected customers, or their financial advisers, to provide more information once we have that clarity.

    Further information can be found on the Woodford website.