Embattled fund manager Neil Woodford suffered a triple-whammy humiliation on Thursday after the investment trust he runs was forced to cut the value of three more of its holdings.
The board of Woodford Patient Capital Trust said that it has been told by supervisor Link to slash the valuations of three investments because of challenges they face raising funds on the markets.
This will knock around £25m off Patient Capital's value, equal to 3.1p of value per share.
Link Fund Solutions also acts as supervisor to Mr Woodford’s shuttered equity income fund, which slammed the door on investors in June after running out of ready cash to repay departing customers.
It marks the third time in just...
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