LONDON: Woodford Investment Management has raised gross proceeds of 800 million pounds ($1.2 billion) in its new investment trust, the money manager said, 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, the firm said.
The previous record of collecting the most money in Britain was held by Mercury European Privatisation, which raised 549 million pounds in 1994, according to data from the Association of Investment Companies.
Woodford, one of Britain’s best-performing fund managers, left Invesco Perpetual last year after more than 25 years to launch his own investment firm.
