RC Brown picks up third purchase in Woodford fire sale

Buys IP Group at 13% discount

Mike Sheen
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Neil Woodford offloaded his stake in IP Group in September
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Neil Woodford offloaded his stake in IP Group in September

Manager of RC Brown’s MFM Primary Opportunities fund Oliver Brown has for the third time made purchases of shares being offloaded by Woodford Investment Management in the wake of the liquidity crisis engulfing the Equity Income fund.

Woodford was the second-largest shareholder in healthcare-focused firm IP Group with a 20% stake, before offloading the company in September as part of the ongoing overhaul of the Equity Income fund. Brown confirmed in an update to investors seen by Investment Week that he had picked up the some of the shares last month among four other primary opportunities. IP Group is an investment company comprising of holdings in early stage companies, providing seed capital and resources in return for equity in companies spun off as a result of research. It invests in 12 companies that are also ...

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