Schroders Capital Global Innovation (INOV), the former Woodford Patient Capital Trust, plans a second return of capital in its managed wind-down, saying it will hold an £18m tender offer in June. This follows the sale of London-based Bluewater Bio in January and a £37m return of capital last July.
Annual results show the now £89m trust made an 11.5% investment return last year but shareholders got 38% as the share price discount narrowed.
Our view
James Carthew at QuotedData said: “Schroders Capital Global Innovation is trading on a wide (34.6%) discount, but with the chair warning that further material realisations are unlikely before 2028 and individual company valuations may move significantly down as well as up from here, perhaps it is about right.”
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