Neil Woodford has hit out at Link Fund Solutions after the administrator decided to pull the plug on his £3.5m Equity Income Fund.

Terry Smith’s popular Fundsmith Equity fund was the most recommended investment by financial advisers in January and February, according to figures from AJ Bell’s platform.

AJ Bell has criticised the Investment Association (IA) for including ETFs in a recent consultation into sectors.

The Financial Conduct Authority is to consult on new rules to reduce the potential harm to investors holding funds invested in illiquid assets - such as property - “under stressed market conditions.”