Coronavirus - we're here to help
From how to access your account online, scam awareness, your wellbeing and our community we're here to help.

Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account

Woodford Patient Capital Trust – board continues to review manager

Woodford Patient Capital has confirmed it continues to review the position of the fund manager following the news Woodford Equity Income will be closed.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

The Board of Woodford Patient Capital Trust has confirmed its ongoing review of the fund manager.

As first confirmed in July, the board has already spoken to and reviewed a range of investment managers. It's yet to be confirmed whether this will lead to a change in the trust's current manager, but the Board is making a full assessment of the options available.

This morning's announcement follows the news the Woodford Equity Income Fund will not reopen following its suspension in June 2019. Instead, Link Fund Solutions, the fund's Authorised Corporate Director, will wind it up as soon as practicable with a view to returning cash to investors at the earliest opportunity. Woodford Investment Management have also been removed as the fund's manager.

The full announcement from the Woodford Patient Capital Board reads:

"The Board of Woodford Patient Capital Trust plc notes the statement by Link Fund Solutions Limited, the Authorised Corporate Director of the LF Woodford Equity Income Fund, that: (i) the decision has been taken by LFS not to re-open WEIF and instead to wind it up as soon as practicable; and (ii) Woodford Investment Management Limited will, with immediate effect, cease to be the investment manager of WEIF.

As previously announced, the Board has been undertaking a review of the Company’s management arrangements and will make a further announcement in due course."

We will continue to remain in contact with the trust's Board, and inform investors as soon as further details are available.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Editor's choice – our weekly email

Sign up to receive the week's top investment stories from Hargreaves Lansdown. Including:

  • Latest comment on economies and markets
  • Expert investment research
  • Financial planning tips
Sign up

Related articles

Category: Investment Trusts

Worldwide Healthcare Trust: July 2020 update

Investment Analyst Jonathon Curtis shares our analysis on the manager, process, culture, cost and performance of Worldwide Healthcare Trust.

Jonathon Curtis

07 Jul 2020 5 min read

Category: Investment Trusts

Murray International Trust: July 2020 update

Investment Analyst Jonathon Curtis shares our analysis on the manager, process, culture, cost and performance of Murray International Trust.

Jonathon Curtis

02 Jul 2020 5 min read

Category: Investment Trusts

Witan Investment Trust - June 2020 fund update

Investment Analyst Jonathon Curtis shares our analysis on the manager, process, culture, cost and performance of Witan Investment Trust.

Jonathon Curtis

18 Jun 2020 5 min read

Category: Investment Trusts

TR Property Investment Trust – June 2020 update

Investment Analyst Dominic Rowles provides an update on TR Property Investment Trust following the release of its annual report for the year ending 31 March 2020.

Dominic Rowles

16 Jun 2020 5 min read