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

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.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter