Your portfolio
for accessing less liquid asset classes
and there has been an explosion in
the number of vehicles focusing on
this area over the past decade.
Mixed results
However, Elliott points out there has
been a wide disparity in outcomes
delivered by these products: “Some
have performed incredibly well and
some have disappointed.”
While Neil Woodford’s downfall may
have put some investors off “patient
capital” for unquoted businesses, his
Woodford Patient Capital investment
trust lives on as Schroder UK Public
Private.
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“You have to be willing
to take the rough with
the smooth in this type
of investing. It’s an
interesting area, but
there’s a degree of risk”
It is one of four trusts in the AIC’s
recently carved-out Growth Capital
sector. The most successful of these
so far is Merian Chrysalis, which is
up 23.67 per cent since launch in
November 2018. Its premium has
ranged between 4 and 29 per cent over
the past year and currently stands at
just under 10 per cent.
It helped that Merian Global
Investors was already well-known
in the industry, says Ewan Lovett-
Turner, head of investment
trustnet.com