Analysts take aim at Woodford over late disclosure of WPCT sell down

Speculation trust could be wound up

David Brenchley
clock • 5 min read

Neil Woodford has been criticised by investment trust analysts for the late disclosure of the sale of a majority of his stake in Woodford Patient Capital Trust (WPCT), with a trio of brokers speculating the portfolio could be wound up.

In separate announcements to the market on Monday morning (29 July), the board of WPCT said it was considering sacking Woodford Investment Management (WIM) from the running of the trust. It added it had had preliminary discussions with interested third-party candidates. It also said Woodford had informed them he had sold 60% of his holding in the trust, which amounted to 1.75m shares, between 3 July and 8 July for personal reasons, including a tax liability. He now owns around 1.25m shares, representing 0.14% of the issued share capital. But many questioned both why Woodford needed to...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Amid market uncertainty private real estate can offer stability and income

Partner Insight: Amid market uncertainty private real estate can offer stability and income

Investors looking for shelter in a volatile economic climate will find an attractive entry point for private real estate, says Gracie Coburn, Assistant Portfolio Manager and Vice President of Nuveen Global Cities Strategy at Nuveen.

Gracie Coburn, Assistant Portfolio Manager and Vice President of Nuveen Global Cities Strategy at Nuveen
clock 03 April 2025 • 5 min read
The Big Interview: Franklin Templeton CEO Jenny Johnson on 'the three Cs' of takeovers, agentic AI and alternatives

The Big Interview: Franklin Templeton CEO Jenny Johnson on 'the three Cs' of takeovers, agentic AI and alternatives

Growing a global business

Katrina Lloyd
clock 02 April 2025 • 12 min read
Partner Insight: Capitalising on the growing alternative lending market

Partner Insight: Capitalising on the growing alternative lending market

Private Credit, a nascent and rising asset class for wealth portfolios but one that is close to ubiquitous amongst institutional investors, can offer stable, high yielding returns and reduced volatility compared to traditional fixed income, says Michael Massarano, Partner and Deputy CIO at Arcmont Asset Management, an investment-affiliate of Nuveen.

Michael Massarano, Partner and Deputy CIO at Arcmont Asset Management, an investment-affiliate of Nuveen
clock 01 April 2025 • 6 min read
Trustpilot