New Woodford Fund

Jsscmm

Another way of looking at it... Currently on a 3.46% premium according to Morningstar.

bowlhead99

Porcupine wrote: »

RNS Number : 0469L Woodford Patient Capital Trust PLC
Woodford Patient Capital Trust Plc (the Company)

The Company announces that the unaudited estimate of the total assets as at 21 April 2015 was £790.6million. The net asset value per Ordinary share excluding income and expenses is estimated to have been 98.83p per share and the net asset value per Ordinary share including income and expenses is estimated to have been 98.83p per share.

22 April 2015

So looks like we paid 1.175% for the IPO on top of 0.5% stamp duty.

Firstly you didn't pay stamp duty as it was a new issue, but may have paid a broker fee to arrange your subscription, depending on your broker.

Secondly, you have no information to determine what we paid for the IPO costs. You will eventually get that in the financial statements whenever they are published (originally estimated not to exceed £3 million, in the prospectus).

Meanwhile, the value of the fund's assets declined by an aggregate amount of circa £9.4 million, as a result of a mixture of market valuation changes, trading expenses, investment costs and IPO costs which happened up to the close of business on 21 Apr.

steelbru

On Morningstar's WPCT share page, it gives under heading Valuation Statistics :
Price 102.00
NAV 98.50
Discount/premium 3.55
Category Discount -11.69

What's the Category Discount ? As well as -11.69 for 21/04/2015, it also gives -5.91 for 1 year High and -12.14 for 1 Year Low.

Thanks

bowlhead99

Morningstar have put it in a 'sector equity' category rather than a regional equity category. The sector chosen is private equity. Other sector equity categories would include e.g. energy, financial services, natural resources specialists etc

So, rather than being in UK small-cap equity they are in the category "Sector Equity: Private Equity".

The current prevailing discount for that category is presumably 11.69%, which doesn't seem unreasonable for a sector full of illiquid assets.

TCA

In case anyone missed it, news of the first investment of WPCT:

"Fund manager Neil Woodford has made his first investment with his £800 million Woodford Patient Capital Trust in Sphere Medical Holding. The AIM-listed diagnostics firm told the stock market that WPCT would back its share placing announced on 13 April to the tune of £4 million. According to the statement, Woodford has committed to buying a little more than 23 million shares in the firm, accounting for 30.8% of the placing. This equates to an overall 17.2% stake in the company. Sphere Medical is one of 30 ideas Woodford expects to populate the portfolio over the coming weeks."

http://citywire.co.uk/money/woodford-patient-capital-reveals-first-investment/a810489

Mistermeaner

So

Any millionaires yet? (Apart from Neil)

Broken_Biscuits

ggb1979 wrote: »

So

Any millionaires yet? (Apart from Neil)

its made about 5%. To make someone a millionaire... They would have had to put in everything they had to the value of just over 950k!

i don't have enough patience (or perhaps years left on this world) to get me to a million from the 2.7k i put in.

i read the other day that Woodford put 20m into p2p. Couldn't find any mention of this being associated with his funds... So is this his personal cash? Just how rich is he?

InvestInPoker

Broken_Biscuits wrote: »

i read the other day that Woodford put 20m into p2p. Couldn't find any mention of this being associated with his funds... So is this his personal cash? Just how rich is he?

I think one of the holdings of the Woodford Equity Fund is a p2p company.

Broken_Biscuits

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11503152/Neil-Woodford-ditches-banks-for-peer-to-peer-lending.html

just reread the article.
its not 20m of his own cash.

still, anyone know where he ranks on the rich list?

bowlhead99

ggb1979 wrote: »

So

Any millionaires yet? (Apart from Neil)

I don't have a million yet, but the assets represented by my shares in the company were on Friday night worth 99.25% of what I paid for the shares, and my WPCT shares themselves are today trading on the stock market at 105% of what I paid.