Woodford exits Royal Mail stake on regulatory concerns

Bought at fund launch

Neil Woodford has sold out of his holding in Royal Mail, which he has held since the launch of his £8bn Equity Income fund, over regulatory concerns.

The stock, which he began reducing in December, is now no longer part of his Woodford Equity Income portfolio, as he is concerned about the regulatory environment affecting the company. He initially bought into Royal Mail when he first launched his fund back in August 2014, taking a 1.5% position in his portfolio. At the time, Woodford (pictured) said there was scope for the company to improve its profits and generate sustainable value for shareholders. Osborne unveils plan to offload 30% Royal Mail stake  However, in an update for investors this month, Woodford IM told investors...