Former Woodford fund drops 17% on Rutherford liquidation

£24m wiped off

James Baxter-Derrington
clock • 1 min read
Former fund manager Neil Woodford
Image:

Former fund manager Neil Woodford

The former Woodford Equity Income fund has plummeted 17% in value on a single day, following news one of its few remaining holdings is set to be wound up.

In a letter to investors published on 15 June, Link Fund Solutions managing director Karl Midl revealed the fund had lost £24m of its net asset value when Rutherford Health appointed an official receiver to liquidate the firm. Midl described the development as "extremely disappointing news", adding that while it was "premature" to know how much of its investment may be recovered, revaluing to zero reflected the current uncertainty that any returns at all would be forthcoming. Leigh Day and Harcus Parker merge Woodford claims for 'unified front' against Link "Unfortunately, a deal ...

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