Woodford investors take hit on trust sale

Link reduces stake in Schroder UK Public Private Trust

David Brenchley
Neil Woodford

Neil Woodford

The stricken, former Neil Woodford-managed LF Equity Income fund almost halved its stake in Schroder UK Public Private Trust (SUPP), just a year after buying the then-Woodford Patient Capital Trust, at a huge loss.

A regulatory filing on Monday (18 May) showed Link Fund Solutions, the authorised corporate director (ACD) for LF Equity Income, slashed its stake in SUPP to 4.8% on Thursday (14 May), from 9% previously. Update: Woodford investors to receive second payment on 25 March The sale comes as the open-ended fund continues its winding up process, but represents a massive writedown in value for trapped investors. SUPP closed trading on 14 May at just 24p, suggesting Link received £9.2m for part of its stake - a steep loss from the £78.9m it shelled out for its stake in March 2019. The trus...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Funds

Bestinvest's bi-annual Spot the Dog finds over £45bn is still in underperforming portfolios

Bestinvest's Spot the Dog finds fewest underperformers in six years

Number of dog funds more than halves

clock 08 August 2022 • 4 min read
The £237m Baillie Gifford British Smaller Companies Fund was rated as not providing value.

Baillie Gifford UK equity strategies suffer low ratings in AoV

One red and four amber funds

clock 08 August 2022 • 2 min read
Royal London group chief executive Barry O'Dwyer

RLAM AUM shrinks 9% in H1 but sustainable funds remain popular

9% decline in AUM

clock 05 August 2022 • 2 min read