Woodford fund compensation: Investors set to receive share of 230m payout next year
Daily Mail Investors who have been trapped in Woodford's flagship fund, which collapsed four years ago, are set for a payout in early-2024.
More than 300,000 investors had around 3.7billion held in the Woodford Equity Income fund when it was closed in June 2019.
Today, the fund's administrator Link Fund Solutions wrote to investors outlining an estimated timeline for compensation payouts should the proposed redress scheme goes ahead.
The 230million scheme, which was announced by the FCA in April, still needs to be approved by the majority of investors.
Next month, LFS will attend a court hearing to gain permission to call a meeting to vote on the proposals which will allow investors in the fund to accept or reject the offer.
On 4 December, investors will be able to vote on the proposals. To pass, at least half of the investors representing at least 75 per cent of the value of the fund must approve the scheme.
