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Woodford Equity Income - an update

04 July 2019

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Following the news that the suspension of the Woodford Equity Income fund is likely to continue for at least another 28 days (with the possibility it could go beyond this), there are no changes to our processes as previously detailed here.

One area we would like to draw to your attention to is how we are handling death claims on the Zurich Intermediary Platform. With this fund suspension, the ACD, Link Fund Solutions, are not allowing any trades regardless of the circumstances facing investors or their families.

Given the difficulty investors' families may face as a result of this, we have taken the decision to ensure all death claims are paid in full, using our financial strength to ensure families receive the full and expected return of the amount held with us. We believe this is the right thing to do for clients and advisers.

Link Fund Solutions has continued to publish daily prices for information purposes, enabling us to deliver a fair outcome for those beneficiaries. If the pricing information were to stop we will have to reconsider what can be delivered from the point of view of fairness.