The Woodford Equity Income Fund has been ejected from the Investment Association’s Equity Income sector.

New research from the Association of Investment Companies into the UK Equity Income investment company sector has found that the investments - recently questioned by some - can provide long term value for income-seeking investors in retirement who also want to build up a lump sum to potentially pass on.

Legal & General Investment Management has launched the L&G European Equity Income Fund, a UK domiciled unit trust.

The Investment Association has launched a review of equity income sector definitions and questioned whether the current yield requirement is “fit for purpose”.