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.

Woodford pours £21m into AJ Bell

1 Comment
Woodford pours £21m into AJ Bell

Star manager Neil Woodford has invested £21 million in pension and platform provider AJ Bell.

Woodford (pictured) has invested £13 million in the Manchester-based company via the Woodford Equity Income fund and a further £8 million through the Woodford Patient Capital Trust (PCT).

It is the not first time Woodford has invested in AJ Bell. During his time at Invesco Perpetual, where he ran the company’s Income and High Income funds, he invested in the pension firm.

Invesco remains the largest institutional shareholder in AJ Bell, of which the majority is owned by employees.

No new shares were issued in the company but shares were made available by AJ Bell's management and existing shareholders. Invesco did not sell any shares, but increased its holding by 'a modest amount'.

AJ Bell chief executive Andy Bell said: 'The investment from these blue-chip institutions signals the exciting opportunities that are emerging.'

AJ Bell represents an early investment in PCT. Others include SciFlour Life Sciences, a subsidiary of Allied Minds, biopharma Kymab and Sphere Medical.

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: Affinity’s Julia Warrander on the importance of diversity

1 Comment Profile: Affinity’s Julia Warrander on the importance of diversity

'Sometimes there are 10, sometimes 20 people around a table and, more often than not, I’m the only woman,' says the Affinity Wealth co-chief investment officer

Wealth Manager on Twitter