Woodford holding Benevolent AI sees valuation halve

Singapore wealth fund to take minority stake

Beth Brearley
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Neil Woodford
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Neil Woodford

One of Neil Woodford's main holdings, Benevolent AI, has seen its valuation halve on the back of investment from a Singapore wealth fund far lower than its $2bn (£1.6bn) valuation.

The tech firm, which is headed up by former Government minister and former Facebook executive Joanna Shields and has already signed deals with pharamceutical giants AstraZeneca and Novartis, announced that Temasek has taken a minority stake in the firm, valuing the firm at $1bn (£800m). The tech start-up firm was backed by Woodford and comprises approximately 4.5% of the Woodford Equity Income Fund (WEIF) and just under 10% of Woodford's Patient Capital trust (WPCT), data from Hargreaves Lansdown shows. WEIF is thought to have lost over £40m so far in selling off stocks while last wee...

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