LONDON (Reuters) – Investors in the collapsed equity income formerly run by British money manager Neil Woodford will get 75% of the value of the fund in their first pay-out, its administrator said on Wednesday.
The fund moved into wind-up on Jan 18 and has generated 2.2 billion pounds ($2.89 billion) through the sale of assets by BlackRock (N:), Link Fund Solutions said in a letter to investors. Investors will get their first payment on or around Jan 30, Link said earlier this week.
Link is still exploring a sale of the more illiquid assets with PJT Partners (N:) and said it could not say when or how much future payments would be.
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