Other Citywire websites
Stay connected:

View the article online at http://citywire.co.uk/new-model-adviser/article/a750113

Woodford cuts ties with Oakley and sets out fund fees

by Alex Steger on May 08, 2014 at 10:30

Woodford cuts ties with Oakley and sets out fund fees

Neil Woodford’s new firm Woodford Investment Management has cut ties with private equity backer Oakley Capital Management and set out the fees for its new fund.

In December 2013 it was reported that Woodford would team up with Oakley founder Peter Dubens to launch his new venture.

Woodford Investment Management received authorisation from the Financial Conduct Authority last week and will launch its first fund, the CF Woodford Equity Income Fund, on 2 June.

Oakley has no stake in the business and the two firms no longer have an operational relationship.

Woodford Investment Management chief executive Craig Newman said: ‘We would like to thank Peter Dubens and his team at Oakley Capital Management for their support with the launch of Woodford Investment Management.’

The fund will have four share classes with annual management charges (AMC) of 1% for its A share class (direct investors) , 0.75% for the C share class (advisers and platforms), 0.65% for the Z share class (for big platforms) and 1.5% for the X share class (legacy insurance funds).

There will be no initial or exit fees.

The fund’s pre-launch offer period will run from 2 June to 19 June 2014, with units priced at £1.

Woodford (pictured) said: ‘I will run this new fund in the same way that I have always run money, adopting the same philosophy and the same long-term approach. My passion and energy have never been stronger. Woodford Investment Management has a culture and an environment that gives me the opportunity to focus on investing – and to build a business committed to its clients’ long-term interests.’

To hear more from Woodford on his new venture, click here.

2 comments so far. Why not have your say?

JonnieB666

May 08, 2014 at 11:07

To use that well known phrase from the renowned Scottish Investment Entrepreneur Robert Charles Nesbitt "GAWN YERSELL BIGMAN!" :-)

report this

david mann

May 09, 2014 at 17:07

This is worth reading

http://www.finalytiq.co.uk/woodford-vs-ftse-uk-equity-income-lets-set-the-record-straight/

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Opportunities emerge as production moves back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

A spotlight on Alastair Mundy


Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.

More about this article:

Look up the fund managers

  • Neil Woodford
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive


Read more...

FOS appoints new chief executive

by Michelle Abrego on Jul 23, 2014 at 15:04

Sorry, this link is not
quite ready yet