Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a733374

Revealed: Woodford to launch Invesco income replica in May

by Danielle Levy on Feb 11, 2014 at 11:51

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 here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Sponsored Video: Barings on investing in Frontier Markets


From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the funds

  • Invesco Perpetual Income Inc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Invesco Perpetual High Income Inc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Invesco Perpetual Monthly Income Plus Inc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Invesco Perpetual Distribution Acc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the fund managers

  • Neil Woodford
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Mark Barnett
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Ciaran Mallon
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Paul Causer
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Paul Read
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet