Investment company analysts have welcomed the appointment of Schroders as investment manager of Woodford Patient Capital Trust (WPCT) but await further clarity on the experience of the team and how the existing portfolio will be managed to avoid the fire-sale of assets.
Simon Elliott, research analyst at Winterflood, said the move "represents a second chance for WPCT" and is "a good outcome for investors". This is because a winding up of the fund "would have resulted in the crystallisation of losses...
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