Aberdeen Standard Investments ‘to win’ Woodford fund
Neil Woodford: sacked
Aberdeen Standard Investments is expected to take on the suspended £244 million Woodford Income Focus mandate.
The Edinburgh-based asset manager is close to sealing a deal to run the fund, which has been suspended for two months, according to Citywire.
A deal would mean Woodford Income Focus avoiding the fate of the much larger Woodford Equity Income, which is being wound up.
It is not known if Aberdeen Standard would fold Woodford Income Focus into an existing fund or retain its independence.
Dealing in Woodford Income Focus has been suspended since manager Neil Woodford was forced to resign ahead of the closure of his Woodford Investment Management business.
His only remaining revenue stream is the fees from the Income Focus fund.
Schroders is set to take on the Woodford Patient Capital investment trust.