WPCT.L - Woodford Patient Capital Trust plc

LSE - LSE Delayed price. Currency in GBp
43.85
-0.30 (-0.68%)
At close: 4:35PM BST
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Previous close44.15
Open43.75
Bid43.20 x 0
Ask44.45 x 0
Day's range42.30 - 44.44
52-week range0.79 - 91.00
Volume1,524,791
Avg. volume1,700,661
Market cap398.438M
Beta (3Y monthly)N/A
PE ratio (TTM)6.96
EPS (TTM)N/A
Earnings date5 Apr 2019 - 5 Apr 2019
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • What do Neil Woodford’s woes mean for Woodford Patient Capital?
    Fool.co.uk

    What do Neil Woodford’s woes mean for Woodford Patient Capital?

    Woodford Patient Capital Trust plc (LON: WCT) shares have plunged to a discount of nearly 50%. Is that a strong buy signal?

  • Short-selling attack costs stricken fund manager Neil Woodford £118m
    Yahoo Finance UK

    Short-selling attack costs stricken fund manager Neil Woodford £118m

    Woodford investment Burford Capital's share price fell over 50% after a critical report from US short seller Muddy Waters.

  • Bloomberg

    Co-Founder of Woodford Firm Puts 15 Million Pounds of Property Up for Sale: Times

    (Bloomberg) -- The co-founder of Neil Woodford’s investment firm is selling two properties with a combined asking price of about 15 million pounds ($18 million), the Times of London reported, citing documents related to a private sale.Craig Newman, who worked with Woodford at Invesco Perpetual before they started their own firm, is seeking 10 million pounds for a house in Oxfordshire, England, the county where Woodford Investment Management is based, the newspaper said. He also put up for sale a house in Berkshire, about 30 miles west of London, with an asking price of almost 5 million pounds, the Times said.A Woodford Investment Management spokesman told The Times that Newman was not raising money in a hurry and said it was “categorically untrue” he was setting up a legal fund.The report comes as the company’s 3.7 billion-pound mutual fund remains frozen to investor withdrawals. Woodford also sold 1.75 million of his shares in the Woodford Patient Capital Trust Plc -- about 60% of his holding -- and the directors of the publicly traded fund are considering replacing him as portfolio manager A spokesman said the sale was to “meet personal financial obligations, including a tax liability.”Woodford Investment Management gated its flagship fund after struggling to meet redemption requests following a period of poor performance. The suspension is intended to give Woodford time to raise cash by offloading stakes in unlisted and smaller companies that he had built up in recent years. The move drew criticism from Bank of England Governor Mark Carney, who said it highlights the risks of money managers who offer investors daily access to their money, but buy hard-to-sell assets.To contact the reporter on this story: Lucca de Paoli in London at gdepaoli1@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Paul Jarvis, Brian WingfieldFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Neil Woodford's fund considering replacing him as manager
    Yahoo Finance UK

    Neil Woodford's fund considering replacing him as manager

    Neil Woodford could be replaced at the helm of his namesake investment trust after the suspension of his £3.7bn equity income fund.

  • Bloomberg

    Neil Woodford’s Listed Trust Considers Replacing Him as Manager

    (Bloomberg) -- Neil Woodford’s listed investment trust is considering replacing him as portfolio manager, deepening a career crisis that began when the stock picker stunned the financial world by freezing his flagship fund last month.The board of Woodford Patient Capital Trust Plc is meeting with a range of fund managers and looking at all options, according to a company statement on Monday. The trust’s shares have plunged 31% since Woodford locked down his main fund after a run of poor results led to mounting redemption requests, driving the trust’s market value down to 468 million pounds ($576 million).“I think it’s a big mistake what they’re doing,” said Jacob Schmidt, chief executive officer of Schmidt Research Partners, a global investment firm. “Woodford is managing the trust for free at the moment. He also knows the portfolio in-and-out, and knows all of the stocks. Why appoint someone else?”Woodford also sold 1.75 million shares in the trust -- about 60% of his holding -- between July 3 and July 8 to “meet personal financial obligations, including a tax liability,” according to a separate statement on Monday. He notified the board of the sale on July 27.That long gap between the sale and notification “reflects poorly on the manager,” analysts at JPMorgan Cazenove wrote in a note on Monday. “It is not surprising, in our view, that the board is at least considering other management options given the current situation and performance under the current strategy since inception.”Rare StepThe trust’s shares were trading at a 34% discount to net asset value on July 25. Woodford won’t receive any income or dividends from the trust while his flagship fund remains suspended, according to the statement.Suspending redemptions is a rare step for any fund, let alone one, like Woodford’s, that allows clients to make regular withdrawals. He made the decision to buy time to raise cash by selling down the fund’s holdings of lightly traded micro-, small- and mid-cap stocks that made up 97% its assets at the end of May, according to Morningstar data.Pressure on Woodford is increasing. The U.K.’s top markets regulator recently said the money manager had failed to follow the spirit of the rules, and a top lawmaker said the fund industry should prepare for tougher scrutiny following Woodford’s woes. Bank of England Governor Mark Carney to say that funds offering daily liquidity while loading up on illiquid assets are “built on a lie.”Meanwhile, two senior executives left Woodford Investment Management within days of one another as the firm reduces headcount.(Updates with analyst’ comments starting in third paragraph.)\--With assistance from Justina Lee.To contact the reporter on this story: Suzy Waite in London at swaite8@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Patrick HenryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Neil Woodford's flagship fund frozen for another four months
    Reuters

    Neil Woodford's flagship fund frozen for another four months

    Under-fire British asset manager Neil Woodford was hit by a double blow on Monday as his flagship fund looked set to remain frozen until early December and he faced being sacked from managing his namesake listed investment trust. Storied stockpicker Woodford, once a darling of retail investors, has seen his reputation tarnished after a liquidity crisis forced him to stop clients leaving his 3.7 billion pound Equity Income Fund in June. The continued suspension will enable Woodford to "complete a measured and orderly repositioning of the fund's portfolio", Link Fund Solutions, which has oversight of the fund, said in a letter to investors posted on its website.

  • Why I’d buy this investment trust ahead of Woodford Patient Capital
    Fool.co.uk

    Why I’d buy this investment trust ahead of Woodford Patient Capital

    G A Chester explains why he'd avoid Woodford Patient Capital Trust plc (LON:WPCT) and buy this alternative instead.

  • Why I’d sell Lindsell Train Investment Trust and Woodford Patient Capital today
    Fool.co.uk

    Why I’d sell Lindsell Train Investment Trust and Woodford Patient Capital today

    The valuations of Lindsell Train Investment Trust plc (LON: LTI) and Woodford Patient Capital Trust plc (LON: WPCT) could hardly be further apart.

  • Reuters - UK Focus

    UPDATE 1-Woodford plans staff cuts following fund suspension

    British asset manager Woodford Investment Management is planning to cut staff at its Oxford headquarters in central England after the suspension of the firm's flagship 3.7 billion pound ($4.65 billion) fund a month ago. "We have reluctantly entered into redundancy consultations with a number of staff to advise them that their roles are at risk,” a Woodford spokesman said by email on Wednesday. The firm, run by veteran fund manager Neil Woodford, employed around 45 people at March 31 2018, when it last published accounts, the spokesman said.

  • Is now the time to buy Woodford Patient Capital Trust?
    Fool.co.uk

    Is now the time to buy Woodford Patient Capital Trust?

    News from Woodford Patient Capital Trust plc (LON: WPCT) suggests the board is aiming to de-risk this investment, says Roland Head.

  • Reuters - UK Focus

    UPDATE 2-Listed Woodford fund plans overhaul as feels shareholder heat

    The listed investment fund of embattled British money manager Neil Woodford plans to cut debt and bolster its board after pressure from shareholders spooked by a steep slide in its share price. Woodford Patient Capital Trust (WPCT) has a number of the same holdings as a suspended fund run by Woodford, one of Britain's best-known managers, and has been hit hard by concerns it may be impacted by any forced selling of assets. Taking heed of investor concerns, the board of the trust announced on Friday a series of changes including reducing its use of borrowed money to fund the many small, unlisted companies in its investment portfolio.

  • Reuters

    Listed Woodford fund plans overhaul as feels shareholder heat

    The listed investment fund of embattled British money manager Neil Woodford plans to cut debt and bolster its board after pressure from shareholders spooked by a steep slide in its share price. Woodford Patient Capital Trust (WPCT) has a number of the same holdings as a suspended fund run by Woodford, one of Britain's best-known managers, and has been hit hard by concerns it may be impacted by any forced selling of assets. Taking heed of investor concerns, the board of the trust announced on Friday a series of changes including reducing its use of borrowed money to fund the many small, unlisted companies in its investment portfolio.

  • Woodford Patient Capital Trust is down 20% in a month: here’s what I’d do
    Fool.co.uk

    Woodford Patient Capital Trust is down 20% in a month: here’s what I’d do

    With a big discount to NAV, I think Woodford Patient Capital Trust plc (LON: WPCT) might be an unmissable bargain. But you must understand what you're buying.

  • Before piling into Woodford Patient Capital Trust, read this
    Fool.co.uk

    Before piling into Woodford Patient Capital Trust, read this

    Does the current 30%+ discount to NAV make Woodford Patient Capital Trust plc (LON: WPCT) a buy?

  • Reuters - UK Focus

    UPDATE 1-Woodford close to hiring bankers to sell stakes in Atom Bank, Oxford Nanopore -source

    Woodford Investment Management Ltd is close to hiring bankers to sell its stakes in private companies Atom Bank and Oxford Nanopore Technologies, a source close to Woodford told Reuters on Tuesday. The British fund manager is on the verge of appointing PJT Park Hill, a division of the investment bank PJT Partners Inc , to offload stakes in those companies, the source said. Sky News reported earlier that the move by Woodford is expected to be finalised within days, and said it was part of a rescue bid aimed at raising hundreds of millions of pounds.

  • Reuters

    Woodford close to hiring bankers to sell stakes in Atom Bank, Oxford Nanopore - source

    The British fund manager is on the verge of appointing PJT Park Hill, a division of the investment bank PJT Partners Inc , to offload stakes in those companies, the source said. Sky News reported earlier that the move by Woodford is expected to be finalised within days, and said it was part of a rescue bid aimed at raising hundreds of millions of pounds.

  • Does a 36% discount make Woodford Patient Capital Trust a buy?
    Fool.co.uk

    Does a 36% discount make Woodford Patient Capital Trust a buy?

    The Woodford Patient Capital Trust plc (LON: WPCT) looks cheap, but it's not cheap enough, thinks Rupert Hargreaves.

  • Illiquid assets held by Woodford's UK fund pose hurdle to reopening
    Reuters

    Illiquid assets held by Woodford's UK fund pose hurdle to reopening

    Trading in Neil Woodford's 3.7 billion pound ($4.69 billion) Equity Income Fund may not be reopened swiftly after it was suspended on June 3 because of the illiquid assets it holds. The fund's authorized owner, Link Fund Solutions, must update investors on whether it intends to keep the fund closed to trading at least every 28 days. The main reason trading was suspended was to allow time for the fund to sell its stakes in unlisted and illiquid assets.

  • Reuters - UK Focus

    UPDATE 1-Assets in Woodford's smaller fund shrink-Morningstar

    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.

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