|Bid||53.70 x 0|
|Ask||54.10 x 0|
|Day's range||53.50 - 55.93|
|52-week range||0.87 - 91.00|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||8.52|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The Woodford Patient Capital Trust plc (LON:WPCT) share price has crashed to a 37% discount to NAV, but this Fool still wouldn't touch it with a bargepole.
Would the departure of Woodford be a signal to buy? Studies show that the leaving of poor managers leads to a return to the performance of fund shares.
Assets under management in Neil Woodford's Income Focus Fund have fallen by more than 100 million pounds ($127 million) since the suspension of trading in his main fund last week, data from Morningstar showed. Investors have grown nervous about Woodford after the freezing of his flagship 3.7 billion pound Equity Income Fund on June 3. Wealth managers St James's Place and Openwork also pulled separate mandates totalling nearly 4 billion pounds from Woodford last week.
Neil Woodford's asset management firm said on Tuesday it won't waive fees for investors in its suspended flagship fund, rejecting calls from its regulator and lawmakers. Woodford, among Britain's most famous fund managers, has faced fierce criticism after suspending his 3.7 billion pound ($4.70 billion) equity income fund on June 3, in a rare move for a fund designed for retail investors. "The company will continue to charge the fee as the fund remains actively managed and we focus on repositioning the portfolio," a spokesman for Woodford Investment Management said.
British politicians and regulators piled pressure on Neil Woodford following the suspension of his flagship fund a week ago, while investors pulled money from his other products and a major backer distanced itself from the frozen fund. Woodford Investment Management suspended its equity income fund on June 3, a rare move for a product aimed at retail equity investors, after a run of redemption requests. Morgan's comments came after Andrew Bailey, chief executive of Britain's markets regulator, the Financial Conduct Authority, said the suspension raised "important questions" about how illiquid investments should be regulated.
The board of a 1 billion-pound ($1.3 billion) publicly traded trust run by Neil Woodford issued its first statement since he froze redemptions in his flagship fund, stopping short of declaring its support for the investor once known as Britain’s Buffett. The five-member board endorsed the bets he has made for the Woodford Patient Capital Trust. Woodford shocked the financial world last week with his decision to block withdrawals from his flagship fund.
British politicians and regulators piled pressure on Neil Woodford following the suspension of his flagship fund a week ago, while investors pulled money from his other products and a major backer distanced itself from the frozen fund. Woodford Investment Management suspended its equity income fund on June 3, a rare move for a product aimed at retail equity investors, after a run of redemption requests.
British money manager Neil Woodford cut his stakes in at least 21 companies this week as he frees up cash to meet a rush of redemption requests that forced him to suspend his flagship fund. Woodford, one of Britain's best known investors, froze his Equity Income Fund on Monday as too many people were asking for their money back after a number of his top investments turned sour. While he has been trimming his holdings to meet redemption requests for several months, the pace stepped up dramatically this week following the suspension.
Neil Woodford's Equity Income fund has been suspended, but the Woodford Patient Capital Trust (LON:WPCT) is open for business as usual. Read on if you're thinking of buying.
The shock announcement Monday by the former star manager’s Woodford Investment Management Ltd. that it was blocking withdrawals from its flagship fund is almost without precedent. Who knows -- but I do feel the cards are stacked against him," said Richard Philbin, chief investment officer of Wellian Investment Solutions, which helps clients allocate about 1.7 billion pounds ($2.2 billion). The late Marty Whitman’s New York-based credit firm, Third Avenue Management, decided to liquidate a fund after roiling markets with a move to freeze redemptions in 2015.
A listed investment trust run by the famed money manager is proving to be the perfect proxy for investor sentiment after the 59-year-old money manager halted withdrawals from his flagship LF Woodford Equity Income Fund. The Woodford Patient Capital Trust is trading near a record discount relative to its net asset value, a sign of waning faith in his investment decision-making. The reversal reflects “the nervousness around Woodford’s name,” said Emma Wall, head of investment analysis at Hargreaves Lansdown Asset Management.
Neil Woodford, one of Britain's most high-profile fund managers, has suspended trading in one of his funds after an increase in demand from clients to take their money back. A favourite of retail investors after he performed well during the financial crisis, Woodford had initially seen assets under management grow sharply after he left Invesco to set up his own firm, Woodford Investment Management. A period of underperformance has seen billions of pounds exit in outflows, however, and those from its 4.3 billion pounds ($5.4 billion) LF Woodford Equity Income Fund had picked up in recent weeks, prompting its suspension on Monday.