Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a725003

Neil Woodford to join Oakley Capital

by Dylan Lobo, Eleanor Lawrie on Dec 19, 2013 at 07:29

Neil Woodford to join Oakley Capital

Neil Woodford is to join Oakley Capital, the investment firm which owns part of Time Out magazine.

Woodford (pictured), will set up a new venture affiliated to Oakley at the start of May following his exit from Invesco Perpetual. He will leverage off Oakley's investment infrastructure to establish a standalone investment boutique.

In a statement Oakley Capital said the infrastructure would be in place to allow Woodford to run retail and institutional clients’ money immediately after his employment with Invesco terminates at the end of April.

Commenting on the appointment, Oakley director Peter Dubens said: 'I am delighted Neil is joining and we fully support his desire to create his own transformational asset management business soon after joining Oakley Capital.

'We will fully support the transition and in the meantime we will provide an environment in which Neil can have the autonomy and flexibility to best serve the interests of clients.'

Invesco Perpetual is the largest shareholder in Oakley Capital Investments - owning 30% of the AIM-quoted private equity fund -which provides investors access to the flagship investment strategy of Oakley Capital Private Equity. It is not clear how much of Woodford's High Income and Income funds own of this stake.

The move to Oakley raises the possibility that product launches from Woodford's new outfit may have some kind of private equity remit.

Woodford's interest in private equity has grown significantly in recent years and his exposure to the asset class hit a record high in 2011. 'We're bumping into a number of interesting investments that haven't been quoted,' he said at the time.

The news comes as Invesco Perpetual sells significant positions in a number of Woodford's holdings to cater for some £2 billion of outflows triggered by his resignation in October.  

Earlier this week the firm sold at £36 million stake in small cap property developer Macau Property Opportunities , which followed big disposals in the likes of CapitaDrax and Provident Financial.

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:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

More about this:

Look up the funds

  • Invesco Perpetual High Income Inc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Invesco Perpetual Income Inc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the shares

  • Oakley Capital Investments Ltd
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Capita PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Drax Group PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Provident Financial PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the investment trusts

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

On the road

Click here to find out more from the Audience Development team.

Read more...

SJP soft-closes Asante and Wood funds

by Robert St George on Apr 23, 2014 at 15:28

Sorry, this link is not
quite ready yet