Investors in the former Woodford Equity Income Fund will receive a fifth capital distribution payout in November, with a total of £2.54bn having been distributed to investors so far since the fund began winding up.

Investors in the shuttered fund will get their fifth tranche of money on or before 30 November.

The latest investor letter from Link Fund Solutions (LFS) confirms that that the fund plans to sell another portion of the remaining assets in the fund to be made available for distribution to investors over the next few months.

A further letter will be sent before November detailing the amount individual investors will receive from this final capital distribution.

This payout adds to the total of £2.54bn paid to investors so far via four capital distributions as LFS sells of the assets help by the former Woodford Equity Income Fund.

LFS has now sold the majority of the fund’s assets and it is anticipated that the sale of the remaining assets will continue, but “at a pace which is commensurate with seeking to achieve the best outcome” for investors.

LFS said it continues to make progress regarding the sale of the remaining assets, and whilst it is not possible to provide a definitive end date to the realisation process, it is hoped that the sale of the remaining assets will be concluded in 2022.

The fund still holds assets in Aton Bank, Benevolent AI, Cambridge Innovation Captial, Mafic, Nexeon, RM2, Rutherford Healthcare, Sabina Estate, and the BlackRock ICS Sterling Liquidity Funds (which LFS have used to invest proceeds of sales prior to making a capital distribution).

LFS is not yet able to provide a specific date for the completion of the fund’s wind up.