Ex-Woodford holdings continue to knock Schroders trust as NAV plunges 20%


Neil Woodford’s former holdings have continued to haunt his former trust inherited by Schroders which has seen its assets written down by a fifth. 

On Wednesday Schroder UK Public Private trust announced the value of its NAV had been slashed from £398m or 43.48p per share at the end of September to £318m or 35.01p a share by the end of Q4 2020.

That afternoon the trust’s share price tanked by 12% and continued falling for the remainder of the week to 31p, losing a further 9%.

Managers Tim Creed (pictured) and Ben Wicks and the board described the hit to NAV as “disappointing” but stressed significant progress had been made in reducing the trust’s debt which is expected to be fully paid off with the proceeds from the sale of its stake in Kymab to French…


Source link

About coldfusion

Check Also

Riverhead green-lights EPCAL drag racing events for 2022

Drag racing at the Calverton Enterprise Park got a green light for 2022 from the …

Leave a Reply

Your email address will not be published. Required fields are marked *