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Jupiter's Merlin team has sold a £300 million position in Neil Woodford's flagship income fund.
The fund was able to meet the redemption by selling positions in existing holdings. Following the disposal the Woodford Equity Income fund has £8.9 billion in assets under management.
In a short statement, a spokesperson for Woodford Investment Management said: 'The transaction was concluded in September and the current assets under management of £8.9 billion reflects this.'
Over one year the fund has delivered flat returns and is the only fund in the Investment Association's UK Equity Income sector to have failed to deliver a positive return over that period.
Over three years the fund has delivered 27.3%, placing it in the bottom half of the sector.
Jupiter Merlin head John Chatfeild-Roberts first backed Woodford around 20 years ago when the fund manager was plying his trade at Invesco Perpetual.
The Merlin team bought the CF Woodford Equity Income fund shortly after its high profile launch in July 2014 following Woodford's departure from Invesco. The position was held across the Merlin Growth , Balanced and Income funds.
'We were very happy investors for many years in Neil Woodford's funds while he worked at Invesco Perpetual and have supported him in his new venture,' commented Chatfeild-Roberts at the time of the purchase.
Jupiter would not comment on the disposal, or what its plans were for the proceeds.