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LONDON (Reuters) – Listed fund managed by money manager Neil Woodford, Woodford Patient Capital Trust, Monday attempted to rebadure investors that the consequences of the suspension of Woodford's flagship investment fund were not affecting its "operational performance".
Shares of Woodford Patient Capital Trust were reduced by about one-fifth last week after the suspension of an unlisted segregated fund, the LF Woodford Equity Income Fund, following a series of redemption requests.
Woodford Patient Capial Trust said it is pleased with the operational progress made by the companies in its portfolio, which, in its view, continue to have the potential to generate attractive returns.
"The operational performance of these companies is not affected by recent events," the statement said.
The board "kept a close eye" on the situation and engaged with shareholders and advisers.
"The board wants to focus on the long-term approach of the company and will continue to keep shareholders informed if necessary," he added.
Neil Woodford, one of Britain's best-known investors, reduced his stake in at least 21 companies as he freed money to meet a series of redemption requests that forced him to suspend his flagship fund.
(Report by Huw Jones, edited by Rachel Armstrong)
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