Following the news that dealing in the LF Woodford Equity Income fund has been suspended for at least 28 days due to an increased level of redemptions, we are reaffirming that our rating on the fund remains suspended.

We placed a suspension notice on the fund's rating in April and it will remain in place while we seek reassurances from Woodford Investment Management over a number of questions we have raised in the interim. When we have a clear view of the future shape of the portfolio and can judge whether this is in line with the best interests of investors and the fund's stated objective, we will reassess the strategy.

We will continue to update our website as we gain more clarity and remain in close contact with our clients.