Woodford Investors to Get $230 Million Payout After Sale: Mail

Investors in disgraced fund manager Neil Woodford’s collapsed Equity Income fund are set to receive new cash payouts this week following a sale of health-care stocks, according to the Mail on Sunday.

Woodford investors will get about 200 million pounds ($230 million), equivalent to about 5 pence a share, the newspaper reported.

The cash payout comes after the sale of Woodford healthcare stocks to U.S. investment firm Acacia Research Corporation, the Mail reported. In early June, Acacia agreed to pay as much as 224 million pounds for Woodford’s stakes in 19 firms, including several unlisted businesses.

Administrators have already returned 2.4 billion pounds to Woodford fund investors, equivalent to an average of 53 pence a share, the Mail said.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.