TRADER TALK

CITYWIRE AA-rated Neil Woodford, widely regarded as the best UK investor of his generation, has exploited a £150 million placing to snap up a significant chunk of property manager NewRiver Retail. Woodford took a 5% position in the enlarged share capital, or 7.9 million shares worth £23.8 million at the placing price of 300p, rising to £25.3 million at the open-market price of 320p. NewRiver issued capital to buy out its partners in two of its significant portfolio acquisitions and to fund further capital expenditure. Launched in 2009, it manages £848 million in shopping centres and High Street and warehouse retail space. Peel Hunt and Liberum rate it a buy, with price targets of 350p and 355p. In results for the year to April, it reported a total shareholder return of 16% with adjusted profits up from £9.5 million to £20.9 million.