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Fidelity blocks investors from buying second Woodford fund - Telegraph

Fidelity blocks investors from buying second Woodford fund - Telegraph
FILE PHOTO: Neil Woodford, founder and fund manager at Woodford Investment Management, is seen in this undated handout picture released on June 10, 2019. Jonathan Atkins/Handout via REUTERS -
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(Reuters) – Fidelity Personal Investing was blocking its customers from putting new money into money manager Neil Woodford’s Income Focus fund, the Telegraph Money reported on Tuesday.

The investment firm will continue to allow customers to withdraw money from the £325-million fund but will not let investors buy new units, the report said.

LF Woodford Equity Income fund, which was among Woodford’s flagship funds, was suspended earlier this month due to an increase in redemption requests.

(Reporting by Muvija M in Bengaluru; Editing by Bernard Orr)

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