April 19, 2017 / 6:45 AM / 7 months ago

Invesco Perpetual continues to trim Allied Minds stake

LONDON (Reuters) - Top shareholder Invesco Perpetual has trimmed its stake in technology incubator Allied Minds (ALML.L) for the second time in as many weeks, according to regulatory filings.

Shares in Allied Minds, that invests in technology and healthcare startups, have been under pressure in 2017, down 64 percent after its CEO departed and the company pulled the plug on seven of its investments.

Invesco has sold a further 1.8 million shares, according to a filing dated April 18. This is in addition to a sale of 2.5 million shares disclosed on April 7.

The US fund manager remains the second largest shareholder in Allied Minds with 23.2 percent, with Woodford Investment Management, founded by former employee Neil Woodford, the largest with 28.2 percent.

Woodford has publicly backed Allied Minds in recent weeks, calling its share price slump “short-term noise”, but short-selling activity - a bet against a company’s share price - has remained elevated.

Reporting by Alasdair Pal; Editing by Thyagaraju Adinarayan

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