Link Fund Solutions says Woodford investors approve redress scheme

Link Administration Holdings

14/12/2023 15:13

LONDON, Dec 14 (Reuters) - Investors trapped in a
collapsed fund run by former star stock picker Neil Woodford
have overwhelmingly backed a proposed redress scheme of up to
230 million pounds ($290 million), the fund's authorised
corporate director said on Thursday.
    Link Fund Solutions (LFS) said 93.7% of investors who voted
for the scheme, representing 96.1% of the value of the fund, had
approved a proposal that the Financial Conduct Authority (FCA)
has encouraged bruised investors to consider.
    "As the scheme has comfortably met the statutory threshold
for approval, LFS will now ask the court to sanction the scheme
at a second court hearing on 18 January 2024," Link said in a
statement.

    
($1 = 0.7956 pounds)
    

 (Reporting by Kirstin Ridley and Huw Jones)
 ((huw.jones@thomsonreuters.com; +44 207 542 3326; Reuters
Messaging: huw.jones.thomsonreuters.com@reuters.net))