Woodford investors take hit on trust sale

Link reduces stake in Schroder UK Public Private Trust

The stricken, former Neil Woodford-managed LF Equity Income fund almost halved its stake in Schroder UK Public Private Trust (SUPP), just a year after buying the then-Woodford Patient Capital Trust, at a huge loss.

A regulatory filing on Monday (18 May) showed Link Fund Solutions, the authorised corporate director (ACD) for LF Equity Income, slashed its stake in SUPP to 4.8% on Thursday (14 May), from 9% previously. Update: Woodford investors to receive second payment on 25 March The sale comes as the open-ended fund continues its winding up process, but represents a massive writedown in value for trapped investors. SUPP closed trading on 14 May at just 24p, suggesting Link received £9.2m for part of its stake - a steep loss from the £78.9m it shelled out for its stake in March 2019. The trus...