Woodford raises new UK investment fund target size to $1.2 bln

April 9, 2015 12:04 PM

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LONDON, April 9 (Reuters) - Woodford Investment Management, the money manager launched by veteran investor Neil Woodford, said it could raise up to 800 million pounds ($1.2 billion) in a new fund that aims to make long-term investments in British companies.

The Woodford Patient Capital Trust, which is being structured as a close-end investment trust, earlier planned to collect up to 500 million pounds but the company has raised that target, given higher investor demand, it said in a statement on Thursday.

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