Veteran investor Neil Woodford will not earn any fees on his Patient Capital investment trust, after holdings in healthcare and volatile stockmarkets have dragged down the value of its listed investments in the first year.
The trust was set up last April and the firm said it would only charge 0.1% to cover the bare minimum of costs, with no other recurring charges. However, it would take a performance fee when the fund...
Self-administered pensions reported net investment £4.7bn in Q2
Was responsible for IT and transformation
There are 1,840 asset management firms with £8trn AUM
Also unveils trust IPO raised £100m
Paul Bruns and Elaine Parkes