Invesco has sold almost 17 million shares in the Macau Property Opportunities fund in the latest disposal of stock held by Neil Woodford's Income funds.
Invesco made the sale on Thursday 12 December, cutting its holding in the fund from 24.6m shares - a 27% stake - to just over 5m shares, equivalent to a 6% stake. The sale netted Invesco around £36m. Part of the stake was picked up by Lazard Asset Management, another major existing holder: Lazard's stake rose from 14% to 18% on the same day. The disposal is the most recent of those to have been made by Invesco in recent weeks, all of which have involved cutting positions in some of manager Neil Woodford's small- and mid-cap companies ahead of his departure from the firm in April 2014....
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