For exposure similar to the likely initial make up of the fund, there are a number of good options, Sketch says, trusts like the Mark Barnett-run Keystone Trust, or the Edinburgh Trust.
For something similar to what it might look like later, Sketch points to the Henderson Opportunities Trust, a multi-cap trust that has good exposure to early stage intellectual property companies, some of which could well be on Woodford’s buy list.
But, he adds, the trust’s shifting makeup makes it an interesting prospect ahead of the forthcoming election volatility.
“If you are looking for an exposure to liquid large caps that obtain much of their revenue from all over the world in the next few months, before transitioning fairly rapidly into small and micro-caps, then this could be a good fit,” he said.
There is no doubt that the progress of this trust will be watched with interest and,as Woodford himself pointed out yesterday: “It is an exciting day, but the future is what this trust is about, the challenge is ahead of us.” The trick is going to be ensuring people stick along for the ride.
