Over half of the assets in the LF Woodford Equity Income fund has been offloaded already, Link Fund Solutions confirmed on Friday (13 December) in a letter to investors.
In its latest update, Link said the Financial Conduct Authority (FCA) has confirmed the winding up process of the fund, which has now been renamed LF Equity Income, will commence on 18 January. However, BlackRock Advisors (UK) Limited, which was appointed by Link to oversee the disposal of the listed portion (Portfolio A) of the fund, has already offloaded £1.65bn of stock. This represents 79% of Portfolio A and 56% of the portfolio overall. Link added that, after taking account of any liabilities that the fund owns, the proceeds of the winding up process would be returned to unithold...
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