Former Woodford trust initiates first holding since Schroders takeover
By Harriet Habergham, 25 May 21
Schroder UK Public Private Trust has invested ‘milestone’ stake in cybersecurity company Tessian
Schroders has made its first investment for the UK Public Private Trust since it took over management from Neil Woodford in December 2019.
The Schroder UK Public Private Trust (SUPP) announced on Tuesday it had initiated a $6.75m (£4.78m) holding in cybersecurity company Tessian.
SUPP, managed by Tim Creed (pictured) and Ben Wicks, invested in Tessian as part of its $65m Series C funding round “to accelerate its mission of quantifying and preventing human risk in enterprises across the globe”.
Mission Therapeutics to Participate in Upcoming SVB Leerink Biopharma Private Company Connect Event Mission Therapeutics ( Mission ), a drug discovery and development company focused on selectively inhibiting deubiquitylating enzymes (DUBs), today announced that members of its management will be attending the upcoming SVB Leerink Biopharma Private Company Connect Event.
The event, which will take place virtually on 6-7 May 2021, is intended to bring together private companies with institutional investors and to facilitate discussions on the trends and opportunities shaping the future of healthcare. For individuals interested in attending the conference, please contact SVB Leerink for more information.
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Therapeutics
Investors hit by £120m writedown to former Woodford funds
Value of stocks backed by disgraced former fund manager slashed
Writedowns come as Mr Woodford attempts to relaunch his career
Investors in Neil Woodford s former funds have taken a £120m hit after the value of stocks backed by the disgraced fund manager was slashed by supervisor Link Fund Solutions.
Trapped investors in the failed Woodford Equity Income fund were hit with a 25pc loss on Thursday as Link wrote down the value of the remaining assets to £124m, down from £164m.
That followed Link s £80m writedown to the Schroder UK Public Private investment trust on Wednesday, sending the shares 17pc lower. Mr Woodford resigned as manager of the trust, formerly called Woodford Patient Capital, in 2019 after he was sacked by Link as Woodford Equity Income s manager.
Ex-Woodford holdings continue to knock Schroders trust as NAV plunges 20% portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.
Schroders trust receives muted reception as it offloads ex-Woodford holdings at 20% discount
Sale is expected to knock an additional 3.2% off NAV
The Schroder UK Public Private trust has struck a deal to offload a handful of biotech stocks it inherited from Neil Woodford at a steep discount.
The £220.8m trust revealed it would be selling a basket of largely unquoted stocks to an investment fund managed by UK life sciences venture capital firm, Rosetta Capital, for £49m.
The sale price represents a 22% discount to the aggregate valuation for the holdings as at 30 September 2020 or 19% when adjusted for foreign exchange movements.