Link Fund Solutions (LFS) has agreed to sell "a significant portion" of the stricken LF Equity Income fund's holdings to US firm Acacia Research Corporation for up to £223.9m.
The deal packages up 19 healthcare assets held by Neil Woodford's former fund, which comprise both listed and unlisted stocks including Theravance Biopharma, Oxford Nanopore and Rutherford Health. LFS confirmed the deal to investors on Friday (5 June), after reports emerged earlier in the week a deal was close. It is more than a 50% writedown to the values LFS had reportedly been close to securing from a consortium led by WG Partners, which fell through in February. AJ Bell head of active portfolios Ryan Hughes said this fact would cause "huge frustration" for investors. He added that...
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