Investors Sell Former Favourite Funds

Funds that were private investors' top picks are now being sold off. Departing manager Neil Woodford's funds see outflows - as do beleaguered China funds

Emma Wall 11 December, 2013 | 4:50PM
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Former favourites Invesco Perpetual Income and Invesco Perpetual High Income have  seen outflows of £1.4 billion in the last month, following star manager Neil Woodford's decision to Invesco and set up shop on his own

Despite Woodford not leaving the asset manager where he has spent the last 25 years until April, investors are voting with their feet and fleeing in their droves. Investors were warned not to panic sell Woodford's equity income funds, but it seems they did not heed the advice and instead are opting for Woodford's rivals.

While institutional investors are holding their nerve, private investors are selling off their Invesco holdings. The sales of the two Invesco funds made up 90% of all non-institutional outflows over the past month.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Invesco UK Eq High Inc UK Inc324.27 GBP0.65Rating
Invesco UK Equity Inc UK Inc1,282.96 GBP0.52Rating
M&G Optimal Income GBP A Acc229.77 GBP0.11Rating

About Author

Emma Wall  is former Senior International Editor for Morningstar