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Key study puts Woodford funds on ‘sell’ alert as assets soar
Markets
by Emma Dunkley on Jan 28, 2013 at 07:45
‘Whilst we acknowledge that Richard Wilmot has a good record in investing for growth, this is a different skill to income investing, and for this reason, coupled with the significant change in the process and inevitable lower yield, we are recommending that investors sell,’ Sanlam said.
Both the Invesco funds and the Newton fund features on Sanlam’s ‘Grey list’, which can be an early warning signal for a fund in decline.
However, the Black list is for consistent underperformers and is a sign for investors to look elsewhere.
On this list is Jupiter’s Income fund, run by Anthony Nutt who is set to retire in 2014. The fund will then be handed over to Ben Whitmore.
The study said: ‘A member of the White List for many years, performance has suffered more recently and he ends his tenure in the Black List.
‘Having also followed Ben’s career, we would hope that he turns the fund around, but would prefer to gauge his performance from the sidelines for the moment. Sell.
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