Unquoted Stocks: Chip Stocks and Suspension Period

unquoted stocks: Woodford has been using the suspension period to sell off stakes in unquoted stocks and unlisted companies that can be more difficult to get rid of, according to The Guardian. On Monday, Woodford Investment Management revealed that the bulk of the proceeds about 84% had been reinvested in London-listed blue chip stocks including Imperial Tobacco, BT and the British Airways owner, IAG. Woodford was forced to block investors from withdrawing their money from the equity income fund in June following a string of bad bets that prompted a surge in redemptions that he could not fulfil. The beleaguered fund manager apologised to investors still trapped in the Woodford Equity Income Fund, and confirmed that their cash would likely stay gated until early December. Since then, the value of the suspended fund has tumbled 12.8%, underperforming the benchmark FTSE all-share index, which rose 4.3% over the same period. A recent funding round that resulted in a 90m 72m injection from the Singapore investor Temasek valued the company at 1bn, half of what it was worth in April 2018. The fund manager blamed poor performance in recent weeks on its investment in Benevolent AI, a British healthcare company that uses artificial intelligence in drug development. (news.financializer.com). As reported in the news.