Woodford Patient Capital booted out of FTSE 250

Trust ejected nearly a year after re-entry

The Woodford Patient Capital trust (WPCT) has dropped out of the FTSE 250 index in the latest quarterly reshuffle less than a year after re-entering the second tier of the UK's largest quoted companies.

The £409m investment trust was one of six companies to be relegated from the index of the 101st to the 350th largest companies listed on the London Stock Exchange. Neil Woodford's trust, which re-entered the FTSE 250 in December - at which time it was £977m - having been booted out in June 2018, has been under pressure since trading in the open-ended Woodford Equity Income fund was suspended in early June this year. Recently, Woodford came under fire for the late disclosure of the sale of a majority of his stake in WPCT with brokers speculating the portfolio could be wound up. Furt...