Scheme of Arrangement for Investors in the LF Equity Income Fund – Initial distribution received

This is the latest update on the Scheme of Arrangement for Investors in the LF Equity Income Fund.

What has happened?

The scheme, known as a scheme of arrangement, was approved and Link Fund Solutions Limited (“Link”) have made the first payments associated with this scheme (initial distribution).

The amount of the initial distribution has been determined by Link and is based on the number and class of shares in the LF Equity Income Fund that were held by each client. 

Here is a breakdown of the pence per share distribution that has been applied:

What does this mean for your client(s)?

The initial distributions have been applied to your client(s) product cash account.

Please note:
Our platform solutions are designed to support long term investments and while it is likely to be appropriate to hold small amounts of cash or temporary high amounts of cash, it may not be beneficial for clients to hold high levels of cash over extended periods. 

You may therefore wish to consider taking action to reinvest this amount.

How do I know which clients have been impacted?

For clients on the Wrap/Fundzone platforms
You can view your clients who hold these units on the Wrap/Fundzone platforms by generating a Total Holdings Report.  For more details view here.

For clients on the Elevate platform
You can view your clients who hold these units on the Elevate platform, by generating an Instrument Holdings Report which can be found under the ‘Business Management’ tab.  For more details view here.

What’s next?

Further payments are expected to be made from this scheme and we will inform you once we receive confirmation from Link on when the next payment will be made. 

For more information

If you require any more information, Link will continue to provide updates on the scheme at https://lfwoodfordfundscheme.com. or email us on platform_corporateaction_comms@abrdn.com.