Hargreaves Lansdown chief ‘angered’ over Woodford flagship fund

Chris Hill the chief executive of Hargreaves Lansdown has said he is “angered” by the lack of resolution after Neil Woodford suspended his fund.

Lansdown 300,000 investors have almost £1.6bn in assets that are exposed in the Woodford Equity Income Fund.

Hill said that the Lansdown are “putting pressure” on Woodford to repay their customers.

Hill said in an update to their clients, “We are angered by the lack of resolution so far but remain actively engaged with the regulator, Woodford, Link and the Treasury Select Committee to ensure that all investors, not just those invested through Hargreaves Lansdown, are able to access their investment as soon as possible.

“We will continue to put pressure on Woodford Investment Management to sell out of their unquoted stocks in the Woodford Equity Income Fund.

“We have also urged Woodford to consider alternative ways to release capital so that investors can get access to their money as soon as possible, while balancing the need to get a fair price for assets.”

The post Hargreaves Lansdown chief ‘angered’ over Woodford flagship fund appeared first on London Business News | Londonlovesbusiness.com.

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