(Alliance News) - Neil Woodford's LF Equity Income Fund will remain suspended for at least another month, it was announced on Monday.
The fund's corporate director, Link Fund Solutions Ltd, formally renewed the suspension, as it is required to do "at least every 28 days".
Shares in the Equity Income Fund have been suspended since the start of June. During the suspension, the fund is being reorganised away from unquoted investments and into "larger, more liquid stocks".
In recent weeks the company has reduced its stake in, among other companies: private equity investor Oakley Capital Investments Ltd; housebuilders Countryside Properties PLC and Crest Nicholson; and support services firm Redde PLC.
A statement on the Woodford funds website said: "When the fund reopens, you will see a much more liquid portfolio, but one that reflects the same investment strategy. The portfolio will continue to be focused on undervalued companies, but the majority of them will be FTSE 100 and FTSE 250 index constituents."
The statement went on to say that: "The suspension will be lifted when the fund's repositioning is complete, with less exposure to illiquid stocks. Until then, we are committed to operating the fund in a way that continues to protect the value of your savings, both for those who wish to remain invested and for others who may seek to withdraw from the fund."
Woodford Investment also manages LF Woodford Income Focus Fund and London-listed Woodford Patient Capital Trust PLC.
