Equities

Reuters reveals Woodford biotech stakes first off block in asset sale

Reuters reveals Woodford biotech stakes first off block in asset sale

Reuters exclusively reported that British fund manager Neil Woodford is looking to kick off the sale of his unlisted biotech investments at the end of July, but faces months of negotiations to offload the portfolio. Woodford, one of Britain’s best-known money managers, has left thousands of investors without access to their savings after suspending his flagship 3.7 billion pound equity income fund six weeks ago after a surge of exit requests. The assets will be sold as part of a structured auction process which could last up to three months.