Old Mutual Selling Stake in VPC Specialty Lending Fund

Old Mutual has been decreasing its position in the Fund throughout the year and has now reduced it even further; in March 2017 Old Mutual reduced its stake to below 6% and following its most recent move its stake is now less than 4.99%; according to AltFi, the VPC Specialty Lending Fund is the second largest online lending and alternative credit fund with approximately GBP351 million ($456 million); the Fund has been experiencing losses in recent months and the managers have been enacting a share buyback strategy while also shifting its positioning to greater allocation in balance sheet investments. Source