Woodford's Patient Capital to join FTSE 250 as BlackRock World Mining demoted

The Patient Capital investment trust is to enter the FTSE 250 later this month, two months on from its record fundraising.

The first investment trust to be launched by Woodford Investment Management raised £800m earlier this year, breaking the record for amount raised for a London-listed trust. The popular trust went to a premium shortly after launching on the London Stock Exchange in April, as investors backed fund manager Neil Woodford's strong track record. FTSE is set to announce the trust's entry into the mid-cap index this evening as part of its annual review. Patient Capital will invest predominately in early-stage companies, both quoted and unquoted, in keeping with the investment style favouri...