Update: Stifel downgrades Woodford Patient Capital to 'hold'

Following share price drop to all-time low

Investment trust analysts at Stifel have downgraded the Woodford Patient Capital Trust from 'buy' to 'hold' on concerns about the overlap of its holdings with the suspended Equity Income fund and the impact dwindling investor support could have on the trust.

In a note, Stifel analysts Iain Scouller and Anthony Stern said one of the key concerns is around the overlap of holdings between the fund (WEIF) and the trust (WPCT), in the event of continued redemptions...