Neil Woodford is planning a new fund investing in up-and-coming biotechnology firms, according to reports.
The manager is eyeing an investment trust structure for the launch, a format that is more suited to holding illiquid investments such as ultra-small or unquoted shares, the Financial Times report said.
The investment trust launch will reportedly be capped at £200m in size.
Mr Woodford currently invests in biotech firms in his existing fund, the CF Woodford Equity Income vehicle he launched shortly after opening his new firm Woodford Investment Management.
The fund has proved a hit with the manager’s loyal following of clients, and already has £3.6bn of assets under management even though it only launched in June.
