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Outflows from Woodford funds hit £2 billion
by Daniel Grote on Dec 10, 2013 at 07:45
The two funds have seen their combined assets slip from £24.3 billion to below £22.9 billion since 15 October, according to the Financial Times. Taking into account market movements over that period, outflows have hit around £1.95 billion, or 8% of the funds’ assets.
The Income fund has been the hardest hit, losing 12.8% of its assets, while the High Income fund has lost 4.4%.
Invesco told the FT that the level of redemptions was ‘at the positive end of our expectations’.
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