New Woodford Fund

Mistermeaner

Cheers.

I read the bit in the prospectus in this regard and understood that you can hold shares bought in the secondary market via an isa but not necessarily shares bought in the first issue. I'll give csd a call in . Am.

TCA

steelbru wrote: »

You can apply via some (not sure if all ) on-line trading platforms

There's 9 platforms listed on their website after you select WPCT here: https://woodfordfunds.com/how-to-invest/platforms/

But it's not clear who is participating in the launch other than HL (I registered). My own platform Bestinvest isn't mentioned (although you could register for more information), so to participate in the launch could well mean signing up to another platform or settling for share certificates in the absence of a CREST account.

Had a very quick read of the lengthy prospectus but didn't glean much yet, other than the NAV at launch is expected to be 98.5p thanks to issue costs of £3m!

masonic

InvestInPoker wrote: »

Prospectus published today

Liking the look of what I've read so far.

le_loup

masonic wrote: »

Liking the look of what I've read so far.

Ditto
Though reading a 92 page prospectus on a computer screen is not easy .... of course, much of it is regulatory guff.
For advertisement, there is a good presentation on the Woodford site.
H-L have a good ad of their own on their site too.


Cold towel day tomorrow.

dunroving

TCA wrote: »

There's 8 platforms listed on their website after you select WPCT here: https://woodfordfunds.com/how-to-invest/platforms/

But it's not clear who is participating in the launch other than HL (I registered). My own platform Bestinvest isn't mentioned (although you could register for more information), so to participate in the launch could well mean signing up to another platform or settling for share certificates in the absence of a CREST account.

Had a very quick read of the lengthy prospectus but didn't glean much yet, other than the NAV at launch is expected to be 98.5p thanks to issue costs of £3m!

Interesting that Fidelity were advertising/promoting it but are not listed as a platform that is supporting it ...


... so if I wanted to invest within an ISA, I guess that means I'd have to open a new (2015-2016) ISA with one of these other platforms and all my 2015-2016 ISA investments would subsequently have to be with the other platform (I am currently completely invested in ISAs through Fidelity)??


I'm interested but I'm not that interested - I was only planning on investing about £2k initially and in the big picture it's not worth it. Shame.

InvestInPoker

dunroving wrote: »

Interesting that Fidelity were advertising/promoting it but are not listed as a platform that is supporting it ...

.

They are listed, just as "funds network"

dunroving

InvestInPoker wrote: »

They are listed, just as "funds network"

Yep, I get that - I have been investing with them for some time. I was just saying I found it interesting that they had a big blurb on it when it is not a product they can help their customers invest in.

TCA

dunroving wrote: »

Yep, I get that - I have been investing with them for some time. I was just saying I found it interesting that they had a big blurb on it when it is not a product they can help their customers invest in.

You've lost me. FundsNetwork are on the page from the link I provided as a platform that will be offering the Woodford Patient Capital Trust. Or are you just talking about the initial offering via the IPO?

Mistermeaner

TCA wrote: »

You've lost me. FundsNetwork are on the page from the link I provided as a platform that will be offering the Woodford Patient Capital Trust. Or are you just talking about the initial offering via the IPO?

This is what I don't understand; can you get some of the initial offering via your platform of choice (and ideally in the s+s isa wrapper) or would you have buy them as shares at market price (and no doubt a premium) from those who bought original offer via the paper application?

I'm with csd who are listed as provider but can't find anything on their website

https://woodfordfunds.com/how-to-invest/platforms/

InvestInPoker

masonic wrote: »

Liking the look of what I've read so far.

It is a huge document but I skimmed it and I agree it looks great.

The performance fee seems to be an unusual part of it compared to the way things are usually done.

The Portfolio Manager has agreed not to receive a management fee
from the Company in respect of its services provided under the
Portfolio Management Services Agreement. The Portfolio Manager
is entitled to receive a performance fee equal to 15 per cent. of any
excess returns over a cumulative 10 per cent. per annum hurdle rate,
subject to a high watermark. The performance fee is calculated on
the following basis.

PF = ((A–B) x C) x 15 per cent.

Where:

PF is the performance fee, if any, payable to the Portfolio Manager;

A is the Adjusted NAV per Ordinary Share;

B is the higher of: (i) the High Watermark NAV per Ordinary Share

and (ii) the Hurdle; and
C is the time weighted average number of Ordinary Shares in issue
since the last Performance Period in respect of which a performance
fee was earned, or if no performance fee has yet been earned,