Neil Woodford’s former protégé has sold a multimillion-pound stake in a direct lending investment trust in a bid to avoid the same liquidity woes that sparked his ex-mentor’s spectacular downfall last month.

Invesco fund manager Mark Barnett has sold down his holding in a small direct lending investment trust. The move will potentially help his two flagship funds avoid some of the liquidity issues behind Woodford’s decision to shut down his investment business.