In the wake of the removal of Neil Woodford's suspended Equity Income fund from the Wealth 50, Hargreaves Lansdown has dealt another blow to the manager with its decision to close its position in the Woodford Income Focus fund.
The fund supermarket has sold down its holding in Neil Woodford's fund, which previously made up 8.23% of the firm's Multi-Manager High Income portfolio. Head of investment analysis Emma Wall confirmed: "I can confirm that we have closed our position in Woodford Income Focus in the Hargreaves Lansdown Multi-Manager High Income fund this week. "We have no other exposure to the Woodford Income Focus fund across our MM portfolio range." HL announced earlier this week it was considering dropping the product from its multi-manager range, which is currently valued at £8.6bn, having remov...
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