The Woodford Patient Capital trust (WPCT) has dropped out of the FTSE 250 index in the latest quarterly reshuffle less than a year after re-entering the second tier of the UK's largest quoted companies.
The £409m investment trust was one of six companies to be relegated from the index of the 101st to the 350th largest companies listed on the London Stock Exchange. Neil Woodford's trust, which re-entered the FTSE 250 in December - at which time it was £977m - having been booted out in June 2018, has been under pressure since trading in the open-ended Woodford Equity Income fund was suspended in early June this year. Recently, Woodford came under fire for the late disclosure of the sale of a majority of his stake in WPCT with brokers speculating the portfolio could be wound up. ...
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