Trust buyers split on Woodford Patient Capital

Some managers still pinning hopes on manager

Trust buyers continuing to back Neil Woodford's investment process are eyeing Woodford Patient Capital's share price for an attractive entry point, following its severe decline in the aftermath of the gating of the firm's Equity Income fund.

However, critics have warned the share price may never recover from the fallout and buyers are "better off betting on a horse". Fidelity blocks investors from buying Woodford Income Focus fund Woodford Patient Capital trust's (WPCT) share price has fallen by around 30% since 3 June, though the pace of the decline has softened in recent days. It is at present the most shorted investment trust in the FTSE 350. With total assets of £927m, WPCT is currently trading at a discount of 38.1%, according to Association of Investment Companies figures, as at 20 June. In terms of returns, W...