19th Jun 2019 18:29
(Alliance News) - NewRiver REIT PLC said embattled fund manager Woodford Investment Management Ltd has cut stake in the company to 12.8% from 14.9% on Tuesday.
Separately, Horizon Discovery Group PLC said Woodford Investment on same day lowered its stake to 7.7% from 10.4%.
Shares in NewRiver REIT on Wednesday closed at 191.20 pence each, down 1.3%. Shares in medical research company Horizon Discovery closed at 145.60p, down 0.7%.
At the beginning of June, Woodford took the decision to suspend withdrawals from his equity income fund due to "an increased level of redemptions", with the fund now needing time to "reposition" its portfolio invested in unquoted and less liquid stocks into more liquid investments.
Woodford Investment manages three funds: LF Woodford Income Focus Fund, LF Woodford Equity Income Fund and London-listed Woodford Patient Capital Trust PLC.
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