Woodford IM to transfer unquoted stocks from Equity Income fund to Patient Capital trust

The firm said it has already sold some of the unquoted stocks previously featured in the open-ended Equity Income fund, to buy shares in Patient Capital. In a statement, Woodford IM said the move has been made ahead of any potential regulatory changes following the Financial Conduct Authority's discussion paper Patient Capital and Authorised Funds published in December. This highlighted patient capital assets are currently constrained by liquidity and exposure limits in open-ended funds. The regulator is, as a result, exploring whether these restrictions are appropriate, or whether they ...