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Schroder UK Public Private Trust (formerly WPCT) – Annual Report: Monster write-downs but still a Bargepole

2021-04-26 16:39:29

Schroder UK Public Private Trust (SUPP) – formerly Neil Woodford’s Patient Capital Trust (WPCT) has released its Annual Report for FY20 and the shocking write-downs are all too apparent, although no surprise to ShareProphets as we warned of this all along. The good news is that the gearing has been paid off and the company now finds itself with over 3% cash now that investee Kymab has been sold. But the red ink is everywhere, and led to another severe drop in NAV as write-down after write-down took their toll.

ARTICLE

Schroder UK Public Private Trust – formerly WPCT – Shocking Revaluation as Reality Begins to Bite at Rutherford

2021-04-08 09:10:40

Schroder UK Public Private Trust (SUPP) – formerly Neil Woodford’s Patient Capital Trust (WPCT) – slipped out a new but unaudited net asset value statement yesterday at 3.32pm and it was shocking: it wiped another 20% off the previously stated NAV to bring the official figure down to just 35.01p per share. That, against the fantasy 89.07p when the flagship Woodford fund, Woodford Equity Income, was gated on 3 June 2019.

ARTICLE

Schroder UK Public Private Trust (Woodford’s WPCT) completes asset sale to Rosetta Capital: shareholders screwed again

2021-03-15 11:54:18

Neil Woodford’s shambolic Patient Capital Trust (WPCT) – now Schroder UK Public Private Trust (SUPP) after Woodford’s disgrace – has announced the completion of an asset sale to bring in £52.9 million. In theory this is good news, but since the original sale was announced as being at a 19% discount and the vast majority of the cash is being used to part-pay the bank there really isn’t much to celebrate for shareholders.

ARTICLE NEWSFLOW

Schroder UK Public Private Trust (formerly WPCT) – IPO of Immunocore. Who's got a calculator?

2021-02-07 10:34:47

It was announced on Friday afternoon by Schroder UK Public Private Trust (SUPP), the former Neil Woodford Patient Capital Trust (WPCT), that the IPO of Immunocore on Nasdaq had gone ahead. We were offered some tasty numbers, but are they really true?

ARTICLE

Former Woodford Patient Capital Trust, now Schroder UK Public Private Trust agrees massively discounted asset sale. How can NAV be believed?

2021-01-27 15:44:07

Schroder UK Public Private Trust (SUPP) – the former Woodford Patient Capital Trust has today announced the sale of seven assets for a total of £51.9 million. Well done, you might say – until you read that this represents as discount of some 19% to the forex adjusted (as at 25 January) valuations as at 30 September 2020. Not so hot, all of a sudden.

ARTICLE

Former WPCT, Schroder UK Public Private Trust writes down £14m Ombu Investment to just £4m following transfer

2020-12-21 08:32:48

Oh dear, oh dear. Neil Woodford’s former Woodford Patient Capital Trust (WPCT) now under new management as Schroder UK Public Private Trust (SUPP) has announced this morning a 71% hit to its investment in Ombu, knocking £10 million off NAV. This follows the acquisition of Ombu by HP Environmental Technologies Fund (HPET), in which SUPP now has a stake.

ARTICLE NEWSFLOW

SUPP (former WPCT): Former Woodford Equity Income Fund dumps entire stake

2020-05-23 09:59:01

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.

ARTICLE

I kid you not Schroders thinks the former WPCT medium risk although it admits investors are CERTAIN to lose money!

2020-04-29 08:45:22

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.

ARTICLE

SUPPing from Woodford’s cup as Link draws the hatchet again

2020-03-26 16:28:21

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……

ARTICLE

Former WPCT, now Schroder UK Public Private Trust January update: gearing down (just) but at what cost as investors await another round of Red Pen

2020-03-06 15:01:37

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.

ARTICLE

Woodford Patient Capital Trust as was, year end data finally out and its diabolical & unreal

2020-02-24 11:24:27

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?

ARTICLE

Link in the frame as the shadow of Neil Woodford still looms over his old Patient Capital fund

2020-01-26 09:34:45

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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