Square Mile's analysts met with Neil Woodford on the 15th of July 2019. While they received some reassurances over certain questions they put to him, the rating on the LF Woodford Equity Income fund remains suspended until we can fully assess the final shape of the portfolio, whether it remains true to its stated objectives and we are satisfied that there are adequate controls in place to ensure the situation isn't repeated. Although trading in the fund has been suspended, its performance continues to be calculated on a daily basis and we will therefore continue to monitor its return profile, the progress of the portfolio's transition, as well as any further developments at Woodford Investment Management, and update our clients accordingly.