Woodford investors forced to sell other funds to pay fees

Neil Woodford
Neil Woodford Equity Income fund was suspended in June, trapping investors' money Credit: Tom Pilston

Neil Woodford investors are handing over hefty advice fees with the money being taken from other funds to cover the costs.

While major fund shops have waived fees for those investors stuck in Woodford's funds, some wealth managers are selling down other investments to make up the difference, Telegraph Money can disclose.

Neil Woodford’s beleaguered Equity Income fund closed in June after he was forced to suspend trading due to a mass exodus of investors. The manager is still taking fees from the fund to the tune of £65,000 a day, but fund shops like Hargreaves Lansdown and Interactive Investor waived their fees on any money held in the fund.

However, no adviser-only fund shops have followed suit....

To continue reading this article

Start a 30-day free trial for unlimited access to Premium articles

  • Unlimited access to Premium articles 
  • Subscriber-only events and experiences
  • Cancel any time

Free for 30 days

then only £2 per week

Save 25% with an annual subscription

Just £75 per year


Register for free and access one Premium article per week

Only subscribers have unlimited access to Premium articles.
Register for free to continue reading this article
Or unlock all Premium articles.
Free for 30 days, then just £1 per week