WPCT.L - Woodford Patient Capital Trust plc

LSE - LSE Delayed price. Currency in GBp
46.70
-1.15 (-2.40%)
At close: 4:48PM BST
Stock chart is not supported by your current browser
Previous close47.85
Open48.00
Bid47.90 x 0
Ask48.10 x 0
Day's range46.70 - 49.25
52-week range0.68 - 91.00
Volume12,180,329
Avg. volume108,183
Market cap424.334M
Beta (3Y monthly)N/A
PE ratio (TTM)7.41
EPS (TTM)N/A
Earnings date5 Apr 2019
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • What does this blow to Woodford Patient Capital say about investing in Neil Woodford?
    Fool.co.uk

    What does this blow to Woodford Patient Capital say about investing in Neil Woodford?

    With the Woodford Patient Capital Trust plc (LON: WPCT) discount so high, surely there's a price that we should buy, isn't there?

  • Woodford listed fund shares drop after valuation cut
    Reuters

    Woodford listed fund shares drop after valuation cut

    Shares in Woodford Patient Capital Trust , money manager Neil Woodford's only listed fund, dropped as much as 7% at the open on Friday after the trust's administrator cut the valuation of one of its holdings. WPCT did not disclose any details about the holding, but said late on Thursday the adjustment would impact its net asset value by about 4 pence per share. Link, the trust's authorised corporate director, previously cut the valuation of WPCT's stake in IH Holdings.

  • Reuters

    Woodford listed fund gets 'greater flexibility' for Northern Trust loan

    Woodford Patient Capital Trust (WPCT) , the only listed trust run by Neil Woodford, said on Friday it had agreed greater borrowing flexibility with its lender Northern Trust as its works on selling some assets. The trust has come under scrutiny after the veteran money manager froze his flagship equity income fund in June because it could not meet redemption requests. WPCT has said it may fire Woodford, who faces criticism from regulators and lawmakers for investing in illiquid unlisted companies, as its investment manager.

  • Reuters - UK Focus

    UPDATE 1-Woodford listed fund gets 'greater flexibility' for Northern Trust loan

    Woodford Patient Capital Trust (WPCT), the only listed trust run by Neil Woodford, said on Friday it had agreed greater borrowing flexibility with its lender Northern Trust as its works on selling some assets. WPCT has said it may fire Woodford, who faces criticism from regulators and lawmakers for investing in illiquid unlisted companies, as its investment manager. Woodford has said he is "extremely sorry" for the suspension and is repositioning the assets of the frozen equity income fund towards more liquid assets.

  • Why I’d still shun the Woodford Patient Capital share price at 45p
    Fool.co.uk

    Why I’d still shun the Woodford Patient Capital share price at 45p

    G A Chester discusses why he'd still avoid Woodford Patient Capital Trust plc (LON:WPCT) at a 40% discount to NAV.

  • Woodford Raises About $800 Million Since Freezing Flagship
    Bloomberg

    Woodford Raises About $800 Million Since Freezing Flagship

    (Bloomberg) -- Neil Woodford has raised at least 650 million pounds ($796 million) by selling listed assets held in his frozen flagship fund, as he prepares for a potential line of clients yanking their money when the fund reopens.The embattled stock picker shocked the financial world in early June by halting withdrawals from his LF Woodford Equity Income Fund after a run of poor results led to mounting redemption requests. He made the decision to buy time to sell down the fund’s holdings of lightly traded micro-, small- and mid-cap stocks that accounted for 97% its assets at the end of May, according to Morningstar data.Link Fund Solutions Ltd., administrator of Woodford’s flagship, said on Friday that the suspension will remain in place for at least another month, and that lifting it in December is “achievable.” The fund’s status is reviewed every 28 days.The fund has fallen by 11.2% since the suspension, compared with a 1.5% gain on its benchmark index, the FTSE All Share Total Return, according to Link.Stake SalesWoodford raised at least 300 million pounds in June by selling down stakes including those in BCA Marketplace, NewRiver REIT Plc and Oakley Capital Investments. Since then, his sales have included shares in Stobart Group, which focuses on aviation, energy and civil engineering, and Eurocell, a plastics manufacturer. He also reduced his stake in Crystal Amber Fund. Bloomberg’s calculation of the amount raised is based on public filings and market prices.A Woodford spokesman declined to comment on how much the fund has raised.Suspending redemptions is a rare step for any fund, let alone one, like Woodford’s, that allows clients to make regular withdrawals. Since announcing the freeze, he has lost key executives and long-time investors, has been hit by criticism from a top lawmaker and faces an investigation by the U.K. markets regulator. In response to Woodford’s woes, Bank of England Governor Mark Carney has said that funds offering daily liquidity while loading up on illiquid assets are “built on a lie.”Legal LimitIn another potential blow to Woodford, trading in shares of Eddie Stobart Logistics Plc was suspended on Friday pending clarification of the impact of some accounting issues. Woodford’s flagship fund owns about 22% of the company, according to Bloomberg data.Fresh concern has arisen recently about Woodford’s compliance with U.K. rules that limit how much open-ended funds like his can hold in unlisted securities. He breached the legal limit -- 10% of the value of the fund -- twice last year, and addressed this in part by having some securities listed on an exchange in Guernsey, according to the Financial Conduct Authority.Earlier this month, one of his holdings, Sabina Estates, was delisted from The International Stock Exchange, according to a statement on the TISE website. That followed the delisting in July of other stocks held by Woodford’s fund, including IH Holdings International Ltd. Unlisted holdings now account for more than 18% of the fund’s portfolio, according to Citywire.The net asset value of the listed Woodford Patient Capital Trust Plc was reduced on Friday by about 3.4 pence per share when Link lowered the valuation of the trust’s stake in IH Holdings.“We commenced the process of reducing the fund’s exposure to unquoted and less liquid assets in February,” the spokesman for Woodford said when asked about the delistings. “What you will see when the fund reopens is a portfolio with more FTSE 100 and FTSE 250 companies -- 80% of the proceeds from share sales since suspension have been reinvested in FTSE 100 stocks -- but still reflecting the same investment strategy.”(Updates with extension of fund suspension in third paragraph.)To contact the reporters on this story: Suzy Waite in London at swaite8@bloomberg.net;Carla Canivete in London at ccanivete@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Patrick Henry, Nishant KumarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Will Neil Woodford investors face a longer wait for cash after Eddie Stobart news?
    Fool.co.uk

    Will Neil Woodford investors face a longer wait for cash after Eddie Stobart news?

    Friday's updates from the Woodford Patient Capital Trust and Eddie Stobart Logistics plc (LON: ESL) deliver a double dose of bad news for Neil Woodford.

  • Embattled Woodford's problems continue as fund takes £30m hit
    Yahoo Finance UK

    Embattled Woodford's problems continue as fund takes £30m hit

    Shares in under-fire money manager Neil Woodford’s listed fund crashed 10% on Friday after one of its key investment’s faced a £30m write-down.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

By using Yahoo, you agree that we and our partners can use cookies for purposes such as customising content and advertising. See our Privacy Policy to learn more