Neil Woodford. Woodford Investment Management via YouTube

Biotech uni­corns first to go as Neil Wood­ford auc­tions as­sets off sus­pend­ed fund — re­port

As Neil Wood­ford seeks much-need­ed cash to end what threat­ens to be a pro­longed sus­pen­sion of his flag­ship fund, his biotech hold­ings might be the first chunk on the chop­ping block.

Reuters is re­port­ing that Wood­ford’s over­seers at Link have brought in a bou­tique in­vest­ment bank to han­dle the sale, which would fol­low a se­ries of small­er auc­tions from the frozen Eq­ui­ty In­come Fund that reaped £300 mil­lion ($379 mil­lion) in the first month af­ter Wood­ford abrupt­ly blocked in­vestors from pulling out. But that was clear­ly not enough to re­open the flag­ship fund — Link an­nounced on the same day, ear­li­er this month, that the fund would stay closed for at least an­oth­er 28 days.

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