News: LNK Link Fund Solutions says Woodford investors approve redress scheme

LONDON, Dec 14 (Reuters) - Investors trapped in a collapsed fund run by former star stock picker Neil Woodford have overwhelmingly backed a proposed redress scheme of up to 230 million pounds ($290 million), the fund's authorised corporate director said on Thursday.

Link Fund Solutions (LFS) said 93.7% of investors who voted for the scheme, representing 96.1% of the value of the fund, had approved a proposal that the Financial Conduct Authority (FCA) has encouraged bruised investors to consider.

"As the scheme has comfortably met the statutory threshold for approval, LFS will now ask the court to sanction the scheme at a second court hearing on 18 January 2024," Link said in a statement.

($1 = 0.7956 pounds)