Seneca IM re-enters Woodford Patient Capital amid market 'over-emotion'

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 a 15% premium. Neil Woodford's range faced 2018 performance issues within its Equity Income fund, which saw holdings, including Provident Financial and AstraZeneca, suffer extreme dips, while the Patient Capital Trust also lagged the performance of the AIC UK All Companies sector average last year. The redemptions from both vehicles have been notable as a result. However, Parfect -...