Link offloads remaining Woodford healthcare assets to Acacia

But £192m remains in the former Woodford Equity Income fund

Link Fund Solutions has transferred the remainder of a portfolio of healthcare assets from the former Woodford Equity Income fund to Acacia Research Corporation, freeing up a further £98.5m for investors.

At the end of last month, the ACD wrote to investors trapped in the fund saying it was working on transferring the remaining assets and would notify them on 9 December of the amount they will each receive, with money being transferred on 11 December.

In an update to investors on Monday, Link said the assets were transferred to Acacia by 3 December which enabled it to make a fourth payment of £98.48m as anticipated. The LF Equity Income fund has now received a total of £223.9m from the transfer of a portfolio of healthcare assets to Acacia.

Link first announced in June it had struck a deal with Acacia to sell a bundle of 19 biotech stocks at a massive discount. But the ACD came under fire for the deal after Acacia sold off several stocks in their entirety for a profit within days of taking ownership.

See also: Link accused of letting further middleman chip into Woodford investor savings

A total of £2.54bn has been returned to investors since the start of the former Woodford fund’s wind up. As at 11 December, following the recent capital distribution, the fund’s remaining assets were valued at £192.6m.

Link said: “Although it is not possible to confirm when we will be in a position to make a fifth capital distribution we will continue to keep you informed of developments throughout the winding up process and will write to you no later than 31 March 2021 with a further update on the winding up of the fund.”

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