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| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
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As of Mar 31, 2026
The LF Equity Income Fund, formerly LF Woodford Equity Income Fund, continues its liquidation process with assets valued at £33.8 million as of September 2025. The fund holds two primary assets: Nexon valued at £24.0 million and £9.4 million in cash held in Northern Trust Sterling Liquidity Fund. Management received £550,000 in contingent consideration from the Ombu sale in February 2026. No suitable offers were received for Nexon in late 2025, and management continues seeking an appropriate sale opportunity during 2026 at fair value for investors. The Settlement Scheme has made no additional payments since March 2024, with supervisors concluding no payment should be made currently. Cash distribution is being deferred as the small payment amount (approximately £20 for 10,000 shares) would incur disproportionate administrative costs. Management may consider a combined payment from both the Settlement Scheme and fund cash if Settlement Scheme payments become possible before Nexon is sold. Share values range from 0.74 to 0.94 pence per share across different classes.
This is a liquidating fund holding two main assets: Nexon (valued at £24.0 million) and cash (£9.4 million), with management seeking to maximize recovery for investors through orderly asset disposition.
The fund continues seeking an appropriate opportunity to sell Nexon at a fair price during 2026. Cash distribution is deferred due to small payment amounts and disproportionate administrative costs. Next update expected January 2027 unless significant developments occur.
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