Woodford Patient Capital suffers NAV writedown

Unnamed company valuation reduced

clock • 1 min read

Woodford Patient Capital Trust (WPCT) suffered a second writedown in the valuation of one of its holdings in three weeks, it was announced on Thursday (12 September).

In a note to the market, WPCT confirmed that Link Fund Solutions, its authorised corporate director which is charged with valuing the portfolio of unlisted stocks, had reduced the valuation of an unnamed holding. The valuation change, WPCT said, was expected to hit the trust's net asset value (NAV) by 4p per share, which would take NAV down to 69p and leave WPCT trading on a 39% discount. WPCT's board said it was "unable to comment further on this revaluation at this time due to confidentiality obligations, but it will provide a further update to the market when able to do so". ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Single-adviser firm sells to local IFA as he 'shuns consolidators'

Single-adviser firm sells to local IFA as he 'shuns consolidators'

Simon Aucott sells his firm to Staffordshire-based IFA Bank House

Isabel Baxter
clock 27 February 2024 • 2 min read
MKC Wealth acquires female-focused financial planning firm

MKC Wealth acquires female-focused financial planning firm

The firm will operate under the new brand MKC Wealth for Women

Isabel Baxter
clock 26 February 2024 • 2 min read
Mattioli Woods selects T. Rowe Price to develop income model portfolio

Mattioli Woods selects T. Rowe Price to develop income model portfolio

Headed up by investment advisers Yoram Lustig and Michael Walsh

Isabel Baxter
clock 15 January 2024 • 1 min read