Seneca Investment Managers has re-invested in the Woodford Patient Capital trust through its Diversified Income and Diversified Growth funds, with the trust's current discount of 13.9% representing a "huge opportunity" for investors amid "over-emotion" about the recent underperformance of open-ended funds, according to manager Richard Parfect.
Seneca IM had originally held the now-embattled Woodford trust at IPO in 2015, before reducing its exposure in June and finally exiting entirely by the end of that year when shares were trading at around...
'Gap between value and price as wide as I have ever seen'
Reduced UK outflows
Draws attention of FCA
Subject to shareholder approval
Adds £60m of assets
Up to £2,500 a month