Schroders to take over Woodford Patient Capital Trust by year-end

The investment company will be renamed Schroder UK Public Private Trust plc, retaining the company's existing investment objective and policy through bringing together its established investment approach across quoted and unquoted companies with a long-term outlook. In an announcement to the stock exchange, WPCT board chairman Susan Searle noted the "challenging circumstances" surrounding Woodford Investment Management and called Schroders the "natural choice" to take over the fund. Schroders said it will use "deep resources" in both its private assets and equities management teams,...