Woodford to Launch Closed End Growth Fund

After months of speculation, veteran UK equity income investor Neil Woodford has confirmed plans to launch an investment trust investing in smaller companies

Emma Wall 6 February, 2015 | 6:50AM

Star UK equity income fund manager Neil Woodford has confirmed he will be launching a closed end growth fund in April this year. The investment trust will be called the Woodford Patient Capital Trust (WPCT), and will invest up to 75% smaller companies – a mix of unquoted and quoted equities – with the remainder invested in larger undervalued companies. These larger companies will help provide funding and stability in the initial stages of the fund launch. There will be a portfolio bias towards companies that show innovation and invention within the science and technology sectors.

Speaking at a private media dinner last night, Woodford said that it was a long-term ambition of his to launch a fund that supported British industry in this way.

“I have wanted to launch a fund like this for a very long time, as I passionately believe that these sorts of businesses offer fantastic opportunities both for investors and the economy,” he said.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Schroder UK Public Private Trust plc26.70 GBX2.69

About Author

Emma Wall  is former Senior International Editor for Morningstar

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