Seneca IM re-enters Woodford Patient Capital amid market 'over-emotion'
Originally held the trust in 2015
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...
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