Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Revealed: Woodford to launch Invesco income replica in May

Revealed: Woodford to launch Invesco income replica in May

Neil Woodford's new venture is readying an income fund launch for late May, Wealth Manager can exclusively reveal.

The fund will replicate the Invesco Perpetual Income fund that Citywire A-rated Woodford currently runs, with an offer period running from the beginning of May through to late May. The fund manager's eponymous firm Woodford Investment Management will go live in early May.

An employee at the new business confirmed the launch and said it would be run in a similar nature to the fund that Woodford has run for the past 25 years. Last month Woodford Investment Management (WIM) was established at the same London address as Oakley Capital, the private equity house that is backing the business.

WIM was created under the directorship of legal expert Richard Graham Catherwoord Smith (Gray Smith) and Nick Hamilton. Craig Newman has also been named head of retail asset management. He worked with Woodford at Invesco Perpetual for 12 years before Newman's departure in late 2012.

Over the past three years Woodford's £9.4 billion Income fund fund has posted a 47.7% return versus a 36.8% rise by the IMA equivalent sector. The £13.6 billion High Income fund is up 47.3% over the same period versus 36.8% by the IMA UK Equity Income sector.

Back in October Invesco announced that Woodford would leave at the end of April to launch a rival fund management group. 

Citywire AA-rated Mark Barnett will lead the Invesco Perpetual UK equity team Woodford's (pictured) departure, assuming control of the Invesco Perpetual High Income and Invesco Perpetual Income funds. 


Leave a comment!

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

Related Fund Managers

Paul Causer
Paul Causer
7/55 in Bonds - Sterling Strategic Bond (Performance over 3 years) Average Total Return: 30.82%
Paul Read
Paul Read
8/55 in Bonds - Sterling Strategic Bond (Performance over 3 years) Average Total Return: 30.82%
Neil Woodford
Neil Woodford
29/80 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 55.95%
Mark Barnett
Mark Barnett
11/80 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 69.94%
Ciaran Mallon
Ciaran Mallon
46/80 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 48.53%
Citywire TV
Brewin's Gutteridge: what's behind the second oil crash?

Brewin's Gutteridge: what's behind the second oil crash?

This week Brewin Dolphin's research head talks to Will Riley, co-manager of the Guinness Global Energy fund, about what next for oil.  

Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter