Kent loses millions on Woodford Equity Income Fund
0The value of Kent County Council’s investment into the Woodford Equity Income Fund dropped by £36m between April and July.
The equity fund suspended trading in June after Kent Pension Fund decided to withdraw its investment.
Figures released by the council’s superannuation fund committee show that the value of Kent’s investment fell from £260m to £224m between 31 March and 30 June.
A statement in superannuation fund’s annual report said: “When the suspension is lifted it is the intention of the committee to redeem the investment in the Woodford fund.
“The final valuation achieved from the redemption will be dependent on the valuation of the underlying holdings of the Woodford Fund on the final date of dealing.”
Share
