January 29, 2020 / 5:51 PM / 25 days ago

Woodford investors to get 75% of collapsed fund in first pay-out-Link

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 through the sale of assets by BlackRock (BLK.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 (PJT.N) and said it could not say when or how much future payments would be.

Reporting by Carolyn Cohn, editing by Huw Jones

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