interactive investor: 'Discount opportunists' are piling into Woodford Patient Capital

'Catching a falling knife?'

Bargain hunters have snapped up shares in Woodford Patient Capital (WPCT) during June, as it surged to the top spot in platform interactive investor's monthly list of most-bought trusts.

The fallout from the gating of Woodford Investment Management's Equity Income fund (WEIF) on 3 June conspired to push the discount on its £510m closed-end vehicle out from 14% then to 32% a month later, according to Morningstar data. But retail investors have not been deterred by the 25% fall in WPCT's share price. In contrast, like some multi-asset fund managers, they have been dipping their toes in attempting to pick up a bargain. WPCT knocked Baillie Gifford's £8.1bn behemoth Scottish Mortgage (SMT) off the top of interactive investor's list of most-bought trusts for the first time...