Woodford: Some investors will be disappointed with Patient Capital performance

Partly impacted by the Brexit vote

Neil Woodford admitted it has been a "tough start to the year" for his Patient Capital investment trust, but it is still "early days" for the strategy.

The trust, which launched in April last year and is made up of approximately 40% unquoted companies and the remainder in small- and mid-cap quoted holdings, has had "a challenging half-year period". In the six months to 30 June, it lost 16.6% in share price terms against an AIC UK All Companies sector average fall of 9.8% during the period, according to FE. The trust's NAV fell by 10.8% to 86.81p, compared to a rise of 4.3% for the FTSE All Share over the six months. Assets dropped from £805.2m at the end of December 2015 to £717.8m by the end of June, but have since grown to £750m as...