Shades of Grey
Invesco Perpetual High Income
The most high profile name on the Grey List, Neil Woodford’s demotion from the White List has grabbed all the headlines.
The star manager’s Invesco Perpetual High Income fund has dropped to the Grey List with Sanlam giving the £12 billion fund a ‘sell’ recommendation arguing that its size meant it was less able to be nimble and react quickly to changing markets.
Sanlam also recommended investors ‘sell’ Woodford’s £9.2 billion Invesco Perpetual Income fund due to its large size and its focus on large cap, defensive stocks, predominantly in health care and consumer goods.
‘We would prefer managers who are able to be more pragmatic in the face of swiftly changing circumstances,’ it said.