LF ASI Income Focus – formerly named the LF Woodford Income Focus fund - reopens

12 February 2020 - Following a period of carefully managed transition, Aberdeen Standard Investments has announced that LF ASI Income Focus (formerly named LF Woodford income Focus) is to reopen on 13 February 2020.

In a statement, the company said: “We recognise the original attraction of the fund as a highly focused, active income portfolio. Harnessing ASI’s full investment resource, we have selected our highest conviction liquid income stocks, which we believe will drive sustainable income and capital growth, as well as an attractive dividend yield.”

Changes made to the fund

Since taking over management of the portfolio, managers Thomas Moore and Charles Luke, have initiated a transition programme to help ensure that the fund is positioned to deliver its investment goals.

In doing so, they have prioritised exposure to their highest conviction income ideas, improved the liquidity profile of the underlying holdings, increased the portfolio’s sector diversification and sold down structurally challenged companies.

“While this process has taken some time, we are pleased to report that the process is now very close to completion and we are now confident that the portfolio is best placed to deliver the fund’s investment objective and add value for investors,” they commented.

Read more about the fund here

What does this mean for clients?

The fund will be available to buy, sell, switch or transfer from Thursday 13 February 2020. Any request must be placed prior to the Aegon cut off dealing point at 11am to allow the trade to be processed that day. Any requests made after 11am will be traded at the next available dealing point (typically the following day). Income payments from the funds continue to be paid quarterly.