Schroders Capital Global Innovation slashes stake in underperforming legacy holding Oxford Nanopore

Due to poor performance

clock • 2 min read

Schroders Capital Global Innovation Trust (INOV) has reduced its stake in Oxford Nanopore, its largest public holding, following the biotech company’s contribution to the trust’s 2023 performance slump.

In the trust's annual report for 2023, managers Tim Creed and Harry Raikes set out the progress made towards rebalancing the portfolio to ensure the "appropriate" liquidity to execute the share repurchase programme announced in September 2023 and "support the portfolio". To accomplish this, the managers reduced INOV's holding in Oxford Nanopore, one of the trust's legacy holdings dating back to Neil Woodford's tenure as fund manager of the former Woodford Patient Capital trust. As of 31 December 2022, Oxford Nanopore comprised 23.3% of the trust's total equity holdings. By the end of ...

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

Trustpilot