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What does Woodford’s new venture mean for UK fund management?
by Eleanor Lawrie on Mar 03, 2014 at 15:16
Conversely, Peters noted Woodford will face ‘the Bolton issue’, where he is expected to dramatically outperform the market in a short space of time because of his track record. Legendary Fidelity manager Anthony Bolton faced this with his China Special Situations trust.
The fact Woodford is launching an income fund and has hired a number of people in a short space of time suggests he is ambitious about the amount of assets the new venture could receive.
As one industry insider commented, ‘people buy history’, so no doubt Woodford will have no trouble raising assets in a competitive sector.
If WIM’s incoming management team looks to broaden the fund range, it could mean that large fund houses have even more to fear.
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on Jul 31, 2014 at 10:36