Trading in Neil Woodford's 3.7 billion pound ($4.69 billion) Equity Income ...
LONDON - 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.
The main reason trading was suspended was to allow time for the fund to sell its stakes in unlisted and illiquid assets. This is also the main factor determining when it can reopen. The illiquid assets include preference shares in four firms listed on the Guernsey stock exchange that have never traded.
“I doubt very much whether that fund will be unsuspended until much later this year, possibly not until next year,” said Chris Bailey, analyst at Raymond James.
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