Investments  

Hargreaves faces £1.9m fee loss from Woodford debacle

 

Hargreaves Lansdown said the HL multi manager portfolios were “highly liquid” and daily flows had been “in line with normal trading”. The firm has been approached for comment regarding the lost fees.

Woodford Equity Income was suspended on June 3 following a period of prolonged outflows. The fund had been targeting a December reopening but last week (October 14) the decision was made to wind it down instead. Woodford Investment Management subsequently announced its intention to close the company.

imogen.tew@ft.com

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