Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Woodford buys his first unquoted stock

1 Comment
Woodford buys his first unquoted stock

Neil Woodford has bought his first unquoted stock for his new equity income fund.

Woodford (pictured) has invested £5 million in telecoms firm Gigaclear through his CF Woodford Equity Income fund, which raised £1.6 billion in its offer period last month.

Gigaclear was founded in December 2010 by Matthew Hare. In May 2011 the firm took a majority stake in Rutland Telecom, and started to construct its first fibre to the premises network in the September of that year, which opened service in October 2011 in Hambleton in Rutland.

During 2012 Gigaclear delivered fibre to the premises services in the rural communities of Appleton, Eaton and Besselsleigh in Oxfordshire.

In 2013 four more fibre to the premises networks were completed in Uppingham (Rutland), Erbistock (Wales), Fyfield and Frilford (Oxfordshire).

Gigaclear now has three more fibre networks under construction due to open for service early in 2014 in Oxon and Kent.

The money raised from Woodford, along with an additional £2.8 million from private investors, will be used to build about 25 networks by end of year. The firm hopes to connect to connect to 10,000 homes by the end of the year in an acceleration of its rural broadband programme.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Carl Harald Janson: why biotech is on a 20-year bull run

Carl Harald Janson: why biotech is on a 20-year bull run

The manager of the International Biotechnology Trust explains why his confident about the sector's long term prospects.

Brewin's Gutteridge: the opportunities in UK challenger banks

Brewin's Gutteridge: the opportunities in UK challenger banks

In this week's podcast, Brewin Dolphin's Ben Gutteridge and Guy Foster, discuss opportunities in the global financials sector with Aptus' Johnny De La Hey.

Play How BlackRock Income Strategies is positioning for a crash

How BlackRock Income Strategies is positioning for a crash

Adam Ryan keeps his powder dry as he positions the BlackRock Income Strategies investment trust for a market correction. 

Your Business: Cover Star Club

Profile: how Close Brothers gave power back to the regions

Profile: how Close Brothers gave power back to the regions

Almost a year into the role, Close Brothers Asset Management head of wealth management Andy Cumming has highlighted three keys areas of focus

Wealth Manager on Twitter