Neil Woodford investors to share £141.7m payout
Investors in Neil Woodford’s former flagship fund are in line to share a £141.7m payout as the liquidation of its assets continues.
The capital distribution is the second since the process to wind up the Woodford Equity Income Fund (WEIF) began earlier this year.
In January around £2.1bn was handed back to the 300,000 investors locked in the fund, at a payout of 46p to 57p per share compared to its 100p launch price.
Investors will receive a letter detailing how much they are set to receive after 20 March, with the payment due by 25 March.
Former star stock picker Neil Woodford suffered a fall from grace last year after his flagship Equity Income fund was suspended following a spike in investor redemptions.
Woodford was slammed over the level of illiquid assets in the fund, which made it difficult to respond to investor’s requests to withdraw cash.
Link Fund Solutions, which has been responsible for overseeing WEIF’s suspension and liquidation, announced in October it would sack Woodford, wind up the fund and return cash to investors.
In a letter to shareholders today Link Fund Solutions said: “This second capital distribution will be reflected in the net asset value of the fund on 25 March 2020, being the date on which named investors on the register should receive their payment.
“This means that the number of shares that you hold in the fund will remain the same but the net asset value of the fund and the price per share will reduce, as it did following the first capital distribution, to reflect the value paid out by way of the capital distributions made to date.”