Kent County Council will receive an initial payment of £138.9m from its investment in the Woodford Equity Income fund.
The council’s investment in the fund was worth £263m on 31 March last year, but its value fell to below £200m after the fund suspended trading when the county asked to withdraw its money in June.
A spokesman for the Kent County Council Superannuation Fund said: “We can confirm that we have received a letter from the administrators of the Woodford fund stating that we will be receiving an initial sum of £138.9million tomorrow. “We have also been advised that further sums will be forthcoming dependent on the sale of the assets of the fund.”
