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Income Focus Fund update, October 2017

Mitchell Fraser-Jones 17 November 2017 6 min read

The portfolio delivered a positive return in October with the latest quarterly income distribution indicating that the fund is on track to deliver its income objective of 5p in its first full calendar year…

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Patient Capital Trust update, October 2017

Mitchell Fraser-Jones 17 November 2017 4 min read

In October, we continued to see meaningful operational progress across a number of holdings, with encouraging news coming from the likes of Idex, ReNeuron and Mereo BioPharma…

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Equity Income Fund update, October 2017

Mitchell Fraser-Jones 17 November 2017 5 min read

Global markets continued to rise in October, with relatively upbeat economic data allowing investors to shrug off political concerns in Europe and Asia. Against this backdrop, the fund delivered a modestly positive return during the month…

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Income Focus Fund update, September 2017

Mitchell Fraser-Jones 19 October 2017 4 min read

The UK stock market declined slightly in September, despite continued positive momentum in most other major equity markets. Sterling was strong, as the Bank of England indicated that interest rates may rise in November. We do not believe that this heralds the start of significantly tighter monetary policy, but it is a sign that the UK economy is in much better shape than many commentators have suggested…

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Patient Capital Trust update, September 2017

Mitchell Fraser-Jones 19 October 2017 6 min read

September was quite a busy month of operational news for companies in the Woodford Patient Capital Trust portfolio, with updates from the likes of Federated Wireless, Immunocore, and Prothena…

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Equity Income Fund roundup, September 2017

Mitchell Fraser-Jones 19 October 2017 4 min read

The UK stock market declined slightly in September, despite continued positive momentum in most other major equity markets. Currency movements explain much of this disparity, with a recovery in the US dollar against most other currencies, undermining some of the consensual market views that have worked well for much of this year…

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Patient Capital Trust update, August 2017

Mitchell Fraser-Jones 15 September 2017 5 min read

While August is typically a quiet month for the UK equity market, there were several developments from companies in the Woodford Patient Capital Trust…

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Income Focus Fund update, August 2017

Mitchell Fraser-Jones 15 September 2017 8 min read

As the summer has progressed, global stock markets have become increasingly narrowly focused, returning to the themes that drove behaviour in the second half of 2016. Markets have appeared singularly fixated on stocks that are seen as proxies for Chinese credit growth with the rest of the market languishing behind…

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Equity Income Fund update, August 2017

Mitchell Fraser-Jones 15 September 2017 8 min read

Although the portfolio’s performance has been disappointing in recent months, we retain absolute conviction in the investment strategy. Our response to short-term underperformance is to continuously retest our investment hypothesis. In doing so, we conclude that our strategy is very appropriate for the current investment context…

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Equity Income Fund update, July 2017

Mitchell Fraser-Jones 22 August 2017 3 min read

As regular readers will know, our long-term approach to investment management is encapsulated in a patient capital investment style. We look beyond market volatility and focus on the long-term fundamentals of businesses. This is always the case but particularly so over the past few weeks…

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What are the risks?

  • The value of the fund and the income from it may go down as well as up, so you may get back less than you invested
  • Past performance cannot be relied upon as a guide to future performance
  • The annual management charge is charged to capital, so the income of the fund may be higher but capital growth may be restricted or capital may be eroded
  • The fund will be invested in a concentrated portfolio of securities – the fund is not restricted by reference to any geographical region, sector or market capitalisation
  • The fund may invest in other transferable securities, money market instruments, warrants, collective investment schemes and deposits
  • The fund may invest in overseas securities and be exposed to currencies other than pound sterling

Important information

Before investing, you should read the Key Investor Information Document (KIID) for the fund, and the Prospectus which, along with our terms and conditions, can be obtained from the downloads page or from our registered office. If you have a financial adviser, you should seek their advice before investing. Woodford Investment Management Ltd is not authorised to provide investment advice.

Woodford Investment Management Ltd is authorised and regulated by the Financial Conduct Authority (firm reference number 745433). Incorporated in England and Wales, company number 10118169. Registered address 9400 Garsington Road, Oxford OX4 2HN.

Woodford Patient Capital Trust plc is incorporated in England and Wales, company number 09405653. Registered as an investment company under section 833 of the Companies Act 2006. Registered address Beaufort House, 51 New North Road, Exeter, EX4 4EP.

The Woodford Funds (Ireland) ICAV (the “Fund”) has appointed as Swiss Representative Oligo Swiss Fund Services SA, Av. Villamont 17, 1005 Lausanne, Switzerland, Tel: +41 21 311 17 77, email: info@oligofunds.ch. The Fund’s Swiss paying agent is Neue Helvetische Bank AG. All fund documentation including, Prospectus, Key Investor Information Documents, Instrument of Incorporation and financial reports may be obtained free of charge from the Swiss Representative in Lausanne. The place of performance and jurisdiction for all shares distributed in or from Switzerland is at the registered office of the Swiss Representative. Fund prices can be found at www.fundinfo.com.

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