Aberdeen Standard Investments (ASI) has "sold down [the] structurally challenged companies" in the LF ASI Income Focus fund as it repositions the portfolio to be more liquid and diversified ahead of its reopening on Thursday 13 February.
The fund, formerly run by Neil Woodford, has been overhauled by new managers Thomas Moore and Charles Luke, with Woodford's strong bias towards domestically focused stocks removed with the addition of more internationally facing businesses. ASI said the portfolio transition process was "very close to completion", with the managers "confident that the portfolio is best placed to deliver the Fund's investment objective and add value for investors". Further blow to Woodford investors as £550m deal falls through - reports ASI said Moore and Luke had "prioritised exposure to our highest...
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