In its FY19 report and accounts, Schroder UK Public Private Trust (SUPP) – the former Woodford Patient Capital (WPCT) announced a NAV per share of 49.46p per share. With a hotchpotch of cash-guzzling investments, no income and an almighty overdraft, even before the impact of Covid-19 it was clear there would be casualties to come, and it largest holding was the joke that is Rutherford Health (RUTH) whose valuation is clearly absurd and only supported by Neil Woodford’s policy of overpaying, it was clear to us at ShareProphets that the stated NAV was a total fiction. Now the former Woodford Equity Income Fund (WEIF) has dumped its entire stake.
This is an amaingly honest yet utterly dishonest admission from Schroders which managesthe Schroders UK Public Private Trust (SUPP), the dog formerly known as the Woodford Patient Capital Trust (WPCT). It is also a damning indictment of the disgraced Neil Woodford. Schroders has published a new Key Information Document, a KID.
The dog’s breakfast that is Schroder UK Public Private Trust (SUPP) – formerly Neil Woodford’’s Patient Capital Trust (WPCT) has announced that Link is taking the hatchet to the portfolio net asset value once again. Oh dear……
Neil Woodford’s former Patient Capital Fund, now in the hands of Schroder under its new name (but not new performance!) Schroder UK Public Private Trust (SUPP) has released the January month-end update. Not as delayed at the 2019 year-end update which took almost two full months to appear), this is still remarkably late and it is easy to see why.
For all the chatter from certain City folks with degrees in Chemistry, and others, about how a new name and a new management team would transform the fortunes of the Woodford Patient Capital Trust (WPCT), the belated release of the December 31 2019 factsheet shows what a diabolical mess the vehicle now known as the Schroders UK Public Private Trust (SUPP) is in. Is it beyond redemption? Have the City establishment stopped pretending yet?
The shadow of disgraced fund manager Neil Woodford still overhangs the Woodford Patient Capital Trust (WPCT), now renamed Schroder UK Public Private Trust (SUPP), as a line in the sand approaches fast. Of course, the same applies to Link which still seems to be the formal fund manager which appears to have been happy to sign off on any old rubbish to bolster the fund’s official NAV.
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