Woodford urges unquoted holdings to 'demonstrate value' in performance turnaround bid - reports

Conversation with BMO manager

Renowned fund manager Neil Woodford is urging the management of the unquoted positions he holds in his Woodford Patient Capital Trust (WPCT) to put themselves up for sale or list their businesses, as he bids to turn around his fund range performance.

A report in The Telegraph said Woodford had told Peter Hewitt, manager of the BMO Managed Portfolio Trust, which has a position in WPCT, that he had communicated to his positions "they needed to take action to demonstrate their value". One holding in the trust, Oxford Nanopore, could IPO "in the next year or two", said Hewitt while Spanish bank BBVA could look to purchase Atom Bank after having already taken a 40% stake. WPCT owns a 7.2% stake in Oxford Nanopore and almost 7% of Atom Bank. Woodford has faced much criticism recently due to underperformance in his range, with investo...