Woodford: Investors have lost faith in the mining sector

Woodford, writing to shareholders as his £1.3bn Edinburgh investment trust reported its results for the full year to March 2013, said risk-on investors are starting to sell out of the sector. He said investors have lost faith as mining companies continue to erode investor capital by embarking on aggressive acquisition sprees. He said his zero weighting to the sector is one of the factors behind the trust outperforming the FTSE All Share over the year to the end of March, delivering a 22.4% NAV return, ahead its benchmark return of 16.8%. "The company's zero weighting in the mining ...