Star trader Neil Woodford sells an estimated £1.4bn of shares in six months
Top fund manager Neil Woodford has reportedly sold £1.4bn of shares in the last six months.
The ex-Invesco star trader has sold down positions in companies such as pharma business Astra Zeneca, brickmaker Forterra and travel website Hostelworld.
According to estimates from the Sunday Times, Woodford’s selling spree totals £1.4bn since the end of March.
Woodford’s flagship Equity Income Fund has fallen in value from £10.7bn in the summer of 2017 to £5.3bn at the end of last week.
However, it has been more than a year since redemptions were at their heaviest and they were at their lowest level for the year in October.
The size of the fund has grown slightly in November with data from Morningstar showing it grew from £5.1bn at the end of October to £5.16bn as at 9 November.
Woodford has invested heavily in certain areas that he thinks will see growth including UK housebuilders, where investments include Barratts and Countryside.
After launching in June 2014, Woodford’s main fund peaked in May 2017 at £10.2bn.
However, it has since diminished, partially after big sell-offs from the likes of Capita, Provident Financial and the AA.