Call the office on 020 8870 7072 or email info@seymoursinclair.co.uk
Woodford Investment Management update

Woodford Investment Management update

Latest update on the LF Equity Income Fund second payment …


LF Equity Income Fund

Update as of 13 March 2020

Link Fund Solutions, the Authorised Corporate Director of the LF Equity Income Fund, has announced that it plans to make the second capital distribution payment around 25 March 2020.

It should take a couple of business days to process this payment, and as with the previous one, the value will depend on the number of shares held by each investor. The amount will be calculated on 18 March.

Following the distribution, investors will continue to hold the same number of shares in the fund, but the value of them will be correspondingly lower, and further payments will follow until all assets are realised.

We will be writing to all your affected clients invested in this fund to confirm when the payment has been made to their account.

You can read the official statement for full details of this announcement.

LF Equity Income Fund First Payment
Update as of 28 January 2020

Link Fund Solutions, the Authorised Corporate Director (ACD) of LF Equity Income Fund, has announced the amount to be paid as part of the first capital distribution for this fund. The amount per share that will be paid to investors is shown in the table below, and will vary by share class. The payout should appear as cash in your clients’ accounts within a week of the distribution, which is planned on or around 30 January. Starting next week, we will be writing to all clients invested in this fund to confirm when the payment has been made to their account.

Share class

Fund ISIN code

Pence per share

LF Equity Income C Acc

GB00BLRZQ737

58.6631p

LF Equity Income C Inc

GB00BLRZQ620

48.2426p

LF Equity Income Z Acc

GB00BZ01L372

58.9936p

LF Equity Income Z In

GB00BLRZQB71

48.4932p

LF Equity Income Fund Closure and Dates
Update as of 10 January 2020

The date of the capital distribution for the LF Equity Income Fund has been moved back to the end of January by the fund’s Authorised Corporate Director (ACD), Link Fund Solutions.

This follows the approval by the Financial Conduct Authority in December for the ACD to close the fund, and means that the first capital distribution will be paid out on or around 30 January, instead of 20 January as originally planned.

The payout should appear as cash in investors’ accounts about three working days after the distribution. As previously noted (below) the value of this capital distribution will depend on the number of shares held by each investor.

Following the distribution, investors will continue to hold the same number of shares in the fund, but the value of them will be correspondingly lower.

You can read the official statement for full details of this announcement.

LF Woodford Income Focus Fund new management

Update as of 20 December 2019

Link Fund Solutions, the Authorised Corporate Director (ACD) of the LF Woodford Income Focus Fund, announced that it has appointed Aberdeen Standard Life Investments Ltd as the investment manager of this fund. Aberdeen will replace Woodford as the investment manager on 31 December 2019, and the fund will be renamed accordingly to the LF ASI Income Focus Fund.

Aberdeen intends to re-position the fund’s portfolio in a way it considers will best add value for investors, and will actively seek to grow the assets in the fund and to attract additional investments.

The ACD believes that based on assurances it has received from Aberdeen, the best interests of investors (those who wish to retain their holding and those who wish to redeem their holding) will be met by re-opening the fund.  The ACD expects to provide an update on progress in January 2020, with a date for when it expects to resume dealing in the fund.  Aberdeen, the ACD and the depositary (Northern Trust Global Services SE) will waive their fees until 31 May 2020, though some additional portfolio transaction costs will be incurred as a result of selling and buying assets to re-position the fund.

You can read the official statement for full details of this announcement.

IMPORTANT INFORMATION:  Remember that the value of investments and the income from them can go down as well as up and that past performance is no guarantee of future returns.  Key Feature documents give full details of aims, risks and charges – these should be read before you invest.  Whilst we provide product information, guidance and fund research, we cannot know which of these products or funds, if any, are suitable for your particular requirements and must leave that judgement to you.  Tax treatment depends on your individual circumstances and may be subject to change in the future.  If you are unsure about the suitability of an investment, you should seek expert financial advice.

Your Capital is at Risk

Seymour Sinclair Investments Limited is authorised and regulated by the Financial Conduct Authority and offers an execution-only service. Past performance is not a reliable guide to future returns. Market and exchange-rate movements may cause the value of investments to go down as well as up. Yields will fluctuate and so income from investments is variable and not guaranteed. You may not get back the amount originally invested. Tax treatment depends of your individual circumstances and may be subject to change in the future. If you are unsure about the suitability of any investment you should seek professional advice. Whilst Seymour Sinclair provide product information, guidance and fund research we cannot recommend which of these products or funds, if any, are suitable for your particular circumstances and must leave that judgement to you. Before investing you must read the Seymour Sinclair and Platforms Terms and Conditions and it is important that you read the specific risk factors on the Key Investor Information Documents for the funds which you are considering investing in.

For non-platform business, where we can still give discounts, those discounts are subject to receipt of commission and may be subject to change if commission levels are altered. The information on this site is intended solely for the use of those people who are United Kingdom residents for tax and investment purposes.

Close this popup