(Alliance News) - Oakley Capital Investments Ltd said Thursday that embattled fund manager Woodford Investment Management Ltd has cut its stake in the company to less than 5% from 7.3% on Tuesday.
In a separate announcement, Barwon Investment Partners Pty Ltd picked up a 7.2% interest in the investment firm on the same day.
Woodford on Tuesday also substantially reduced its stake in digital content publisher Brave Bison Group PLC to less than 5% from 19%.
Shares in Oakley Capital Investments remained flat at 230.00 pence, while Brave Bison shares were up 6.3% at 1.73 pence on Thursday.
Oakley Capital currently has a market capitalisation of GBP470.1 million, and Brave Bison a market cap of GBP10.5 million.
At the beginning of June, Woodford took the decision to suspend withdrawals from his equity income fund due to "an increased level of redemptions", with the fund now needing time to "reposition" its portfolio invested in unquoted and less liquid stocks into more liquid investments.
Woodford Investment manages three funds: LF Woodford Income Focus Fund, LF Woodford Equity Income Fund and London-listed Woodford Patient Capital Trust PLC.
