Neil Woodford has further breached the UCITS rules regarding the proportion of unquoted stocks that can be held in the portfolio following the delisting of Sabina Estates from the Guernsey stock exchange last week.
The Woodford Equity Income fund (WEIF) most recently breached the rule, which limits the amount of unquoted stocks a fund can hold to 10%, at the end of July, when two of its holdings - artificial intelligence platform Benevolent AI and cold fusion firm Industrial Heat - de-listed from the Guernsey-based International Stock Exchange. The fund had previously breached the rule multiple times before its 3 June suspension. Following the delisting of Sabina shares, it is estimated the illiquid holdings in the Woodford Equity Income fund (WEIF) now represent more than 18% of the total f...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
