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Schroder UK Public Private Trust : SUPP

Schroder UK Public Private Trust (formerly Woodford Patient Capital Trust : WPCT) aims to achieve long-term capital growth through investing in a portfolio consisting predominantly of UK Companies, both quoted and unquoted. The company will aim to deliver a return in excess of 10% p.a. over the longer term.

Initially, the fund was distinguished by being the largest new issue of an investment trust at the time of launch and by having an unusual fee structure whereby the manager would only receive performance fees and no basic management fee. Later, the trust became embroiled in the collapse of Woodford Investment Management. Schroders were appointed managers on 13 December 2019. Under Schroders, the management fee is 1.0% a year on market capitalisation up to £600m and 0.8% above that. There is a performance fee too but this doesn’t kick in until the ed of 2022.

You can access the fund’s website here.