Woodford Patient Capital promoted to FTSE 250 alongside Smithson trust

Follows latest quarterly reshuffle

Neil Woodford's £977m Woodford Patient Capital trust has re-entered the FTSE 250, after being booted out earlier this year, while the recently launched Smithson Investment Trust has jumped straight into the index following the latest rebalance.

In the latest FTSE UK Index Series Quarterly Review, which was based on closing share prices on Tuesday 4 December, the index provider announced six new additions to the FTSE 250. This included two closed-ended investment companies: Woodford Patient Capital and Smithson Investment Trust. Neil Woodford's £977m trust was ejected from the index in June after an extended period of poor performance, largely based on exposure to smaller healthcare stocks. However, the trust has grown in AUM by some £100m since then and performance has been picking up. Over the last six months to 5 Decemb...