Woodford Investment Trust to Issue £80m More Shares

Didn't get a slice of the action when Woodford Patient Capital launched earlier this year? The trust is issuing new shares, but should you bite?

Emma Wall 11 August, 2015 | 12:27AM

Neil Woodford’s investment trust Patient Capital (WPCT) is issuing more shares six months after launch, to meet the demand of investors. The fund began raising money in January, with a public offering in April. Since then Woodford has managed to deploy 75% of the £800 million raised to start-up companies that show innovation and invention within the science and technology sectors.

At launch the investment trust targeted £200 million, with the option to issue up to 10% of assets under management in new shares a year. Woodford admitted at the time that his ambition was deploy a “significantly larger amount of capital” into the sector.

The trust is now valued at £952 million and is issuing £80 million new shares in a bid to reduce the 14% Premium. The fund fell 4% on the news.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Woodford Patient Capital Trust27.05 GBX-2.52

About Author

Emma Wall  is former Senior International Editor for Morningstar

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