Woodford equity income fund has £288 million in remaining assets

The collapsed Woodford equity income fund has 288 million pounds in remaining assets, its authorised corporate director said on Wednesday.

The remaining assets of the fund, which was run by veteran investor Neil Woodford and collapsed last year, may not be sold until mid to late 2021, Link Fund Solutions said in a letter to investors.

Link has made distributions totalling 2.45 billion pounds to investors so far, it said.

The fund shut in October after a four-month lock-up, sparking an outcry from investors and an investigation by Britain's markets watchdog.

Woodford was criticised for holding a large number of illiquid assets in the fund.

The fund's assets totalled 3.7 billion pounds when it was suspended in June 2019 after it was unable to meet redemption requests following months of underperformance.

BlackRock took over selling the more liquid assets in the fund and has completed that task, Link said.

PJT Park Hill has been selling the more illiquid assets, and Link said it would continue to work with the firm to find buyers for the remaining assets.

($1 = 0.7747 pounds)

(Reporting by Carolyn Cohn; Editing by Sinead Cruise and David Goodman)