Woodford Leaves Funds 8 Weeks Early

Neil Woodford has handed over the running of his Invesco Perpetural Income and High Income funds to Mark Barnett eight weeks earlier than initially planned

Emma Wall 7 March, 2014 | 9:17AM
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Neil Woodford has handed over management of the £8.4 billion Invesco Perpetual Income fund and the £13 billion High Income fund to Mark Barnett eight weeks earlier than originally planned.

Woodford announced he was quitting Invesco Perpetual in October after 25 years employment and later confirmed he would be joining Oakley Capital on May 1.

At the time of quitting assets under management totalled £24 billion between the two open-end income funds, but this has since dropped several million pounds as voted with their feet. Morningstar analysts placed the funds Under Review, where they had previously held a Gold Rating.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Edinburgh Investment Ord614.01 GBP-0.48Rating
Invesco UK Eq High Inc UK Inc317.26 GBP-0.88Rating
Invesco UK Equity Inc UK Inc1,258.16 GBP-0.90Rating

About Author

Emma Wall  is former Senior International Editor for Morningstar