Woodford Patient Capital Faces Day of Reckoning

A decision on whether to replace Neil Woodford as the manager of the Patient Capital trust is expected soon

James Gard 15 October, 2019 | 10:03AM
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Neil Woodford

Shares in Neil Woodford’s Patient Capital Trust (WPCT) fell 6% on the shock announcement that the Woodford equity income fund is being wound up just four months after being gated.

Speculation has been mounting that Woodford will be replaced as manager of the trust, and the board said earlier this month that a decision will be made in due course. Industry experts believe today’s decision does not bode well for the Woodford-branded trust. “This feels like the end for Woodford as a stand-alone business,” says Ben Yearsley, director of Shore Financial Planning.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Schroder UK Public Private Trust Ord35.00 GBX1.45Rating

About Author

James Gard  is content editor for Morningstar.co.uk