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LONDON (Alliance News) - Neil Woodford has sold a GBP42 million stake in NewRiver REIT PLC, the Financial Times reported on Thursday.
Shares in the real estate investment trust were sold to funds managed by Woodford's "protege" at Invesco, Mark Barnet, the newspaper reported.
The FT called the NewRiver "the latest reshuffle of Woodford's portfolio" and said it came "at a time when investors have pulled cash from his flagship equity income fund every month for nearly two years".
"According to stock market filings, Woodford sold close to 6% of NewRiver, which specialises in convenience stores and pubs and is valued at GBP750 million, to Invesco this month," the FT reported.
The newspaper spoke with an undisclosed fund manager who said it was "common" in small companies for shares to be sold from a single seller to a single buyer. The manager said they were sure Woodford and Barnet were close and spoke often but added "that isn't a crime".
