Link adds to unlisted investment in former Woodford fund

No clarification on timeline

Link Fund Solutions has increased its investment in an unlisted US company while it conducts the winding up of LF Equity Income.

In a letter to investors trapped in the former Neil Woodford managed fund, the authorised corporate director announced it had joined with other shareholders to "make a further investment" in Mafic, a basalt fibre and thermoplastic resin producer founded in 2015. "After carefully considering all relevant information, we considered this action to be in investors' best interests; specifically, this short-term investment protected the value of the asset and maximised likely future proceeds of sale," the letter explained. Woodford investors 'must be prepared to go all the way to trial' ...