Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Woodford seeks talks with Invesco on multibillion-pound share deal

Woodford seeks talks with Invesco on multibillion-pound share deal

Neil Woodford has invited talks with his former employer over the potential transfer of some of his favourite holdings to his new firm.   

Woodford, who left Invesco Perpetual to set up his own investment company earlier this year, confirmed he was open to talks in article in the Sunday Times.

There is concern that if his successor on the Invesco equity income franchise, Mark Barnett, is forced to sell holdings to cater for outflows, it could spark substantial volatility and potential liquidity crisis in certain small caps.

Woodford, who managed £33 billion for Invesco Perpetual, retains major exposure to a number of these stocks through the £3.7 billion mandate he runs on behalf of St James’s Place.

These include Raven Russia, e-Therapeutics, Oxford Pharmascience, Breedon AggregateHomeserve and Burford Capital.

Woodford told the Sunday Times: ‘After 26 years, leaving Invesco was going to be quite a shock to the system – both for me and them.

‘Clearly if you are motivated by the interest of your client, you want to keep the friction costs of moving as low as possible.

‘To do that, you have to have two consenting adults. I am sure there will be an accommodation.'

Woodford’s new fund, the Woodford Equity Income fund, launched today.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter