Buyers back ex-Woodford trust as Schroders sets out short- and long-term plans

Trust now 'in control of its own destiny'

David Brenchley
clock • 5 min read

Investment trust buyers have backed the managers of the £264m Schroder UK Public Private trust (SUPP) to turn the vehicle's fortunes around after a painful 2019 under Neil Woodford.

Investors in the Woodford Patient Capital Trust saw their holdings halve over the course of 2019, as it became embroiled in the liquidity crisis that engulfed Woodford Investment Management. The trust's discount to net asset value (NAV) widened from around 8% in late January to 50% by early December amid numerous valuation write-downs through the year. Forced selling of assets, plunging investor sentiment, high levels of gearing and follow-on funding requirements also conspired to inflict pain on the trust's shareholders. Witan IT faces 'uphill struggle' as managers lose 'Midas tou...

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