Schroders Capital Global Innovation Trust (INOV)

Sector:

Investment Firms

Index:

FTSE Small Cap

12.70p
   
  • Change Today:
      0.45p
  • 52 Week High: 15.50
  • 52 Week Low: 11.95
  • Currency: UK Pounds
  • Shares Issued: 837.36m
  • Volume: 1,395,348
  • Market Cap: £106.34m

Woodford Patient Capital Trust shares plunge after NAV cut

By Frank Prenesti

Date: Friday 23 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Shares in one of Neil Woodford's main funds plunged on Friday after it was forced to cut the value of one of its investments in startup company Industrial Heat.
Woodford Patient Capital Trust said it was marking down the value of its stake in Industrial Heat, reflecting "a reassessment of the current progress of the business".

Industrial Heat is developing new energy sources including cold fusion, although there is some speculation around how viable the technology is.

The trust said its net asset value would fall by around 3.4p a share. It said the decision was made by Link Fund Solutions after a valuation by IHS Markit.

Neil Woodford, once a darling of the investment industry, has faced multiple problems this year. In June he had to stop withdrawals from his Woodford Equity Income fund after a liquidity crunch.

To add to his woes on Friday, shares in transport and logistics group Eddie Stobart, another of his investments, were suspended from trading on the Alternative Investment Market while the company took another look at its accounts.

Stobart announced the departure of chief executive Alex Laffey with immediate effect.

Russ Mould, investment director at AJ Bell, said: "The distinctive livery on its lorries may have raised a nostalgic smile as you passed them on the motorway, but shareholders in Eddie Stobart Logistics might end up honking their horns in frustration after today's news.

"These developments, and an earlier admission that 2018 profit had been overstated by £2m, follow the appointment of new finance chief Anoop Kangits. This at least suggests the company's financial controls might have more rigour going forward.

"The news will be seen as a further blow to embattled fund manager Neil Woodford, who is a major shareholder in the company."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

INOV Market Data

Currency UK Pounds
Share Price 12.70p
Change Today 0.45p
% Change 3.67 %
52 Week High 15.50
52 Week Low 11.95
Volume 1,395,348
Shares Issued 837.36m
Market Cap £106.34m

INOV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.48% above the market average47.48% above the market average47.48% above the market average47.48% above the market average47.48% above the market average
74.50% above the sector average74.50% above the sector average74.50% above the sector average74.50% above the sector average74.50% above the sector average
Price Trend
47.36% below the market average47.36% below the market average47.36% below the market average47.36% below the market average47.36% below the market average
72.97% below the sector average72.97% below the sector average72.97% below the sector average72.97% below the sector average72.97% below the sector average
Income Not Available
Growth
39.32% above the market average39.32% above the market average39.32% above the market average39.32% above the market average39.32% above the market average
38.82% above the sector average38.82% above the sector average38.82% above the sector average38.82% above the sector average38.82% above the sector average

INOV Dividends

  Latest Previous
  Final Final
Ex-Div n/a 19-May-16
Paid n/a 10-Jun-16
Amount 0.000p 0.16p

Trades for 12-Apr-2024

Time Volume / Share Price
16:35 23 @ 12.70p
16:35 4 @ 12.70p
16:35 19 @ 12.70p
15:25 326,000 @ 12.37p
16:25 13,433 @ 12.28p

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