Link says redress scheme for Woodford investors to begin payments in April

Reuters03-05

LONDON, March 5 (Reuters) - Link Fund Solutions Limited (LFSL) said its redress scheme for around 300,000 investors trapped by the 2019 collapse of a fund run by once-renowned stock picker Neil Woodford, is now formally up and running, with payments to start early next month.

The redress scheme was approved by a court last month to allow up to 230 million pounds to be paid out in redress, drawing a line under the failure of the Woodford Equity Income Fund.

“We are pleased the Scheme has now become effective, following the approval by the Court and the overwhelming support of scheme creditors. We have always believed the scheme was the best option to provide investors with a substantial level of redress, with certainty of payment in the near future," LFSL said in a statement.

(Reporting by Huw Jones, Editing by Louise Heavens)

((huw.jones@thomsonreuters.com; +44 207 542 3326; Reuters Messaging: huw.jones.thomsonreuters.com@reuters.net))

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