Woodford no longer discloses the full list of unquoted holdings within its Equity Income Fund, which now manages around £3.7bn following multibillion pound withdrawals from clients including St James's Place.
These positions have been sold at the prevailing market prices, but many of these have been depressed by poor trading or a weakening outlook in their sectors. PJT Park Hill, which specialises in so-called secondary transactions, is expected to consider disposals of the illiquid stakes to a single or multiple buyers.The money generated from the sales will then be redeployed into more liquid stocks in the FTSE-100 and FTSE-250 that fit Woodford's core investment strategy more appropriately, the firm has indicated.
It has also thrown Link Fund Solutions, Mr Woodford's fund's authorised corporate director, into the spotlight, as well as the role of the City watchdog.
Got too big for his own boots listening to all the hype about him
I mean, he's just a gambler with other people's money and it's all going tits up!
Shares that you cannot sell. In essence.