January 29, 2020 / 5:41 PM / 20 days ago

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

LONDON, Jan 29 (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 ($2.89 billion) through the sale of assets by BlackRock, 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 and said it could not say when or how much future payments would be.

$1 = 0.7608 pounds Reporting by Carolyn Cohn, editing by Huw Jones

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