Star fund manager Neil Woodford is poised to raise more money for his Patient Capital Trust to plough into start-up firms.
Woodford is looking to pull in additional cash to his £801.4million trust.
He largely invests in healthcare firms and aims to deliver capital growth over the long-term by investing in both quoted and unquoted UK firms.
However, the trust largely focuses on start-ups and aims for longer-term annual returns of 10 per cent.
Experts believe that many mainstream firms are already over-valued and Woodford wants to plough more cash into dynamic new businesses.
After launching in April last year, the trust is said now to be almost fully invested, with the remaining cash all committed.
It at present has 60 holdings and Woodford is expected to add up to 30 more with the extra cash.
Head of investment at Hargreaves Lansdown, Mark Dampier, said: ‘Neil Woodford believes there remain plenty of unexploited opportunities in early-growth businesses.
‘Investing in these include early-stage companies within areas such as life science, healthcare, energy, utility, technology, industrial and consumer sectors, especially in companies with new disruptive technologies.
Woodford took, disruptive estate agency innovator ,purplebricks.com to initial public offering on aim London stock exchange. And increased his share holding ,to just shy of 30 % before Christmas last year.
easyProperty.com is also another leading disruptive online estate agency who has also received major funding via another Hedge fund called Toscafund, which is run by Martin Hughes.
‘By contrast, he feels many other more mainstream financial assets have already been bid up too far in price.’
Over its initial offer period, Woodford Patient Capital had initially wanted to raise
£200million but far exceeded expectations. The investment trust was the biggest float in UK market history.
In a statement, the company said: ‘
'Woodford Patient Capital trust has successfully deployed the proceeds of its initial public offering and has a substantial ongoing pipeline of investment opportunities.’
Woodford Patient Capital Trust shares fell yesterday to close down 2.55p, or 2.59 per cent, at 96p.
Further Reading
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purplebricks.com major share holder poised to invest millions more disruptive tech start ups
purplebricks.com major share holder poised to invest millions more disruptive tech start ups
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