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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. 


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