Woodford Equity Income Fund redress

This page provides updates on the Settlement Scheme (the Scheme) proposed by Link Fund Solutions Limited (LFS) in relation to the LF Equity Income Fund (WEIF or the Fund). 

  • On 9 February 2024, the High Court handed down judgment approving the Scheme. A copy of the judgement is available. The Scheme became fully effective on 5 March 2024. Payments are expected to made around Easter this year and Scheme Creditors do not need to take any action to receive them. Further information is available on the scheme website.
  • This follows the announcement on 14th December by Link Fund Solutions that investors had overwhelmingly voted to approve the scheme of arrangement. 
  • The FCA considers that the Scheme offers investors the quickest and best chance to obtain a better outcome than might be achieved by any other means.

In April 2023, we announced a conditional settlement of our investigation into the circumstances leading up to the suspension of the WEIF and LFS's role as authorised corporate director (ACD) of the WEIF. As part of the conditional settlement, LFS agreed to pay all of its assets to over 250,000 investors in the WEIF, via the Scheme. 

In addition, Link Group, the ultimate parent of LFS, has agreed to voluntarily contribute up to £60 million to bolster the redress. This money would not be available to investors through either separate legal action or any other action we, or anyone else, could take.

The FCA considers the Scheme to be the quickest and best way to return as much money to investors as possible compared to other means.