Investors in the shuttered fund will get their next tranche of money before the end of August.
The latest investor letter from Link Fund Solutions confirms that that the fund has and additional £183.15m of cash available for distribution to investors.
A further letter will be sent, on 24 August 2020, detailing the amount individual investors will receive from this third capital distribution.
This payout adds to the £142m distribution made in March and the £2.1bn paid out in January
This will mean that a total of £2,450,413,385 will have been distributed to investors since the commencement of the winding up of the Fund.
Laura Suter, personal finance analyst at investment platform AJ Bell, said many investors will still be frustrated. She said: “There’s no sign of Link and the asset managers shifting the remaining illiquid assets in the fund. There’s no mention of a timeline or any progress having been made on the sale of the assets, with Link just saying the sale ‘may take some time’. This means the process will drag on for even longer for investors, who just want to get as much of their money back as possible and move on from the sorry saga.
“It’s also frustrating that investors will have to wait even longer for the fund’s report and accounts for the year ending March 2020, with Link delaying their publication again from the end of this month to the end of September. This is another blow to investors who haven’t had access to a proper report and financial statements for the fund since the interim report for the six months ending 30 June 2019, well over a year ago. When they finally arrive the accounts will provide a bit more clarity to investors on the sale process and costs involved, but will now be over six months out of date by the time they are published.”