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Old Mutual plans to back Woodford boutique with WealthSelect funds

Old Mutual plans to back Woodford boutique with WealthSelect funds

Old Mutual hopes to award Neil Woodford with a chunk of its WealthSelect portfolio once the manager completes his transition from Invesco to Woodford Investment Management.

The company is currently reviewing the managers in charge of its funds and is in talks to include Woodford in any rejuvenated line-up, the company said.

The boutique ‘is one of the managers we are looking at,’ an Old Mutual spokesperson told Wealth manager sister website New Model Adviser.   

Old Mutual Wealth had initially given Invesco Perpetual its High Income mandate but cut the mandate from its launched list which was published in February after Woodford's announced exit. Invesco now manage the Asian and Corporate Bond mandates for WealthSelect.

Head of investment solutions at Old Mutual Wealth Dean Bowden added: ‘WealthSelect is not a static range, if changes are required or gaps are identified in the proposition we will look to add new capability.

‘Additionally where opportunities to include exceptional managers which will be additive to the proposition arise, we will naturally explore them.’

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