interactive investor: 'Discount opportunists' are piling into Woodford Patient Capital

'Catching a falling knife?'

David Brenchley
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Neil Woodford of Woodford Investment Management
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Neil Woodford of Woodford Investment Management

Bargain hunters have snapped up shares in Woodford Patient Capital (WPCT) during June, as it surged to the top spot in platform interactive investor's monthly list of most-bought trusts.

The fallout from the gating of Woodford Investment Management's Equity Income fund (WEIF) on 3 June conspired to push the discount on its £510m closed-end vehicle out from 14% then to 32% a month later, according to Morningstar data. But retail investors have not been deterred by the 25% fall in WPCT's share price. In contrast, like some multi-asset fund managers, they have been dipping their toes in attempting to pick up a bargain. WPCT knocked Baillie Gifford's £8.1bn behemoth Scottish Mortgage (SMT) off the top of interactive investor's list of most-bought trusts for the first time...

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