The troubled ‘star fund manager’ Neil Woodford has drastically reduced his stake in Purplebricks: he now owns less than five per cent of the hybrid agency.
A trading statement by the company this afternoon revealed that the stake held by Woodford has been reduced from 15.53 per cent to “less than five per cent.”
Earlier today it was revealed that Woodford's flagship investment fund - the Woodford Equity Income Fund, which had not directly invested in Purplebricks - had been shut down and that Woodford himself has been removed as investment manager by the fund’s independent administrators.
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Better to get something than the inevitable nothing.
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