Decisions to suspend dealing in UK-authorised open-ended investment funds are comparatively rare. The suspension of dealing in very big investment funds managed by very well-known investment managers are even rarer.

So when Link Fund Solutions, the authorised corporate director, took the decision to suspend the buying and redemption of shares with immediate effect in the LF Woodford Equity Income Fund on the afternoon of 3 June, it was almost guaranteed to generate considerable excitement within the financial media.

For the LF Woodford Equity Income Fund, which had client assets of £4.33 billion under management at 30 ...