Hargreaves Apologises to Woodford Investors

Broker's chief executive revealed the firm has pocketed £1.9 million from Woodford investors so far this year, but says the firm was not aware the fund had breached the 10% limit on unquoted stocks 

James Gard 19 June, 2019 | 4:42PM

Hargreaves Lansdown office

The chief executive of Hargreaves Lansdown has apologised for the “distress, uncertainty and inconvenience" caused to its customers who invested in the Woodford Equity Income fund.

In a letter to the Treasury Select committee, chief executive Chris Hill said Hargreaves Lansdown had not been told the fund had twice breached the limit on unquoted stocks and offered details on how the controversial Wealth 50 best buy list is compiled. 

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James Gard  is content editor for Morningstar.co.uk

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