Woodford raises $1.2 bln in largest UK investment trust launch for more than 20 years

April 20, 2015 11:11 AM

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LONDON, April 20 (Reuters) - Woodford Investment Management has raised gross proceeds of 800 million pounds ($1.2 billion) in its new investment trust, the money manager said on Monday, achieving the largest launch in Britain in more than two decades.

The Woodford Patient Capital Trust, a closed-end investment trust to be managed by veteran investor Neil Woodford, was oversubscribed by about 10 percent. The trust will begin trading on Tuesday, the firm said.

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