January 28, 2020 / 10:28 AM / 24 days ago

Half of Woodford Equity Income fund cash to be paid out Jan 30-Link

LONDON, Jan 28 (Reuters) - Investors in British money manager Neil Woodford’s collapsed equity income fund will get around half of their share of the money left in the fund in the first distribution round, its administrator said on Tuesday.

The 3 billion pound ($3.94 billion) fund closed in October following a four-month suspension which led to outcry from investors and an investigation by Britain’s markets watchdog.

Investors will get their first payment on or around Jan 30, at a rate of between 48.5 and 59 pence per share, depending on the share class, authorised corporate director Link Fund Solutions said in a letter to investors.

$1 = 0.7608 pounds Reporting by Carolyn Cohn; editing by Simon Jessop

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