Investors trapped in Neil Woodford’s Equity Income fund have found out much they will get back in the first payment since the fund’s winding up process began.
The payment represents around 70% of the last published price of the fund and has been raised from the sale of the liquid stocks in the portfolio.
The table below shows the amount investors in different share classes will receive, with the payment set to hit investors’ bank accounts on or around 30 January.
AJ Bell head of active portfolios Ryan Hughes said while this payment will come as a relief for thousands of investors, there is ‘still huge uncertainty around the money still stuck in illiquid assets’.
He added, ‘Investors will be acutely aware that a large portion of their investment remains trapped in the illiquid, unquoted holdings that Park Hill are trying to sell. Selling the liquid holdings was the easy bit.
‘For Park Hill, it is a hugely challenging task to sell the illiquid holdings in a timely fashion and investors still remain in the dark as to how long they will have to wait for the remainder of their money, and importantly, how much they are actually likely to get back.’