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Woodford's flagship fund suspension extended to December

The suspension of Neil Woodford's flagship £3.7 billion equity income fund was extended to December, City A.M. reported.

On June 3, Woodford, who oversees investments at Woodford Investment Management Ltd., blocked redemptions from his flagship equity income fund amid growing client withdrawals.

Link Fund Solutions, the authorized administrator of Woodford's suspended flagship equity income fund, said "the best option in the interests of all investors is for the suspension of dealings to continue."

A suspension until December will let investors decide "whether they wish to remain invested in or to withdraw their investments from the fund," Karl Midl, director of Link Fund Solutions, said in a letter to investors.

This extension marks the third time the fund's suspension has been extended.