Shareholder Investments: Sister Fund

shareholder investments: While the FTSE 250-listed fund is not directly affected by the suspension, the move at its sister fund caused a sell off in shares and the value of shareholder investments to decline, according to The Guardian. At least three local authority pension funds, including Derbyshire, West Yorkshire and Dyfed in Wales, have investments tied up in Woodford's patient capital fund and risk seeing their investments fall further as the stock price continues to slide. Shares in the Woodford Patient Capital Trust Fund have tumbled 25% to 58p since 3 June, when Woodford made the shock decision to suspend his flagship Equity Income Fund, following a surge in redemptions sparked by bad market bets. Those pensions investments help fund retirement benefits for members including local government employees, councillors, school teachers, charities and housing association staff. It is believed that the local authority's request prompted Woodford to suspend the fund. Concerns over public investments in Woodford's fund first came into focus when Kent County Council was blocked from pulling 263m from his equity income fund at the end of May. (news.financializer.com). As reported in the news.