Schroders Capital Global Innovation positions portfolio for buybacks as NAV slumps 13%

Discount widens to 51.3%

Schroders Capital Global Innovation (INOV) has positioned its portfolio for buybacks as the trust's discount to NAV continued to widen in the first half of 2023, while performance was hit by losses from legacy holdings.

The £223m trust, formerly known as Woodford Patient Capital and later Schroder UK Public Private, until a name change in April this year, saw its net asset value slump by 13.3% in the six months to 30 June 2023.  The NAV drop was driven by its public holdings (-7.4%) as legacy investments such as Benevolent AI, AMO Pharma and Oxford Nanopore suffered from share price weakness. Private holdings (-5.7%) and costs (-0.4%) also contributed to the underperformance.  'Akin to raising the Titanic': Painful tenure for Schroder UK Public Private sparks doubts over its future INOV shares we...