Trading in Neil Woodford's 3.7 billion pound Equity Income Fund may not be reopened swiftly after it was suspended on June 3 because of the illiquid assets it holds.
Equity funds that stick to blue-chip shares cope best with calls from investors for their money back, a senior Bank of England official said on Thursday as fallout from the suspension of top UK fund Woodford continued.
Neil Woodford has sold 97 million pounds of shares over the past 10 days to boost liquidity in his suspended equity income fund, a Woodford spokesman said on Thursday.
Assets under management in Neil Woodford's Income Focus Fund have fallen by more than 100 million pounds since the suspension of trading in his main fund last week, data from Morningstar showed.
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