Battle Against Cancer trust backs Woodford's Patient Capital

The Battle Against Cancer investment trust (BACIT) has backed Woodford's Patient Capital trust at launch.

In its half yearly update to investors, BACIT announced that it had bought into the Patient Capital trust during its IPO period earlier this month. The trust's management said it was attracted to Woodford's company, which invests in early-stage companies, as it offers "growth at a reasonable price". BACIT also introduced two global macro funds, the Parity Value fund and Seia Global Macro fund, to its portfolio during the period. The Patient Capital trust IPO was the largest UK-listed trust launch in history, raising £800m after initially capping fundraising at £500m. BACIT is a ...