Woodford Patient Capital's three-year milestone clouded by Prothena hit

The trust reached its first track record milestone on Saturday having launched in April 2015, but just two days later, early-stage healthcare stock Prothena - which represents 9.12% of the portfolio - saw its share price slump after terminating one of its drug trials. The stock fell 69% on Monday, which was reflected onto Woodford Patient Capital through a circa 6.2% drop in NAV. In the fund's annual report, released on Tuesday, Woodford said: "Clearly not all investments we have made have developed in the direction initially envisaged. That is the nature of investing in earlier-stage...