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Woodford Patient Capital set to fly into FTSE 250

The new trust has been tipped to enter the mid-cap index in the latest round of rebalancing, with BlackRock World Mining's place under threat.

Woodford Patient Capital set to fly into FTSE 250

Citywire AA-rated Neil Woodford’s new investment trust is expected to enter the FTSE 250 in the latest rebalancing of UK indices.

Woodford Patient Capital Trust (PCT) is tipped to be joined by the likes of challenger banks Aldermore and Shawbrook in the mid-cap index, according to JP Morgan, when the benchmarks are rejigged tonight. 

PCT invests in early stage quoted and unquoted stocks alongside blue chips.

Its April launch made investment trust history, raising £800 million to become the biggest UK investment trust launch on record.

This was after the trust had raised its capacity to £800 million from an original £200-£500 million on the back of strong investor demand.

Woodford’s trust could replace fellow investment company BlackRock World Mining, which has endured the worst 12 months in its 21-year history, forcing chair Anthony Lea to issue an apology, while co-managed Catherine Raw exited.

JP Morgan also suggests Sebastian Lyon’s Personal Assets trust could lose its place in the index as it is among the lowest ranked companies by market capitalisation.  

Further up the food chain JP Morgan predicts either Immarsat or Provident Financial will enter the FTSE 100, with Morrison, Sports Direct International, Aggreko and Intertek Group all fighting to keep their spots in the blue chip table.

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