Invesco Perpetual Fund Downgrades: What the Analysts Say

Last October, Neil Woodford quit Invesco Perpetual after a quarter of a century at the firm. His Gold-rated funds have been subsequently downgraded - here we explain why

Jackie Beard, FCSI 16 July, 2014 | 10:53AM Ruli Viljoen

In 2013, after 25 years at the firm, Neil Woodford decided to call time on his life at Invesco Perpetual to go it alone. We all knew it would be a headline-grabber and some nine months on, that’s still the case.

Neil Woodford is an investing legend. He delivered exceptional long-term results at his former funds, and stands out for his length of tenure at his former employer—albeit with Invesco Perpetual having changed guise through the acquisition of Perpetual by AMVESCAP in 2000.

To stay in charge of the same funds for 25 years is a trait shared by very few in the fund management world. Anthony Bolton at Fidelity Special Situations, Brian O’Neill at Henderson Global Trust (HGL), Job Curtis at City of London (CTY), Andrew Green at GAM Global Diversified, Sue Round at Ecclesiastical Amity UK and Paul Mumford at Cavendish Opportunities are others in that small club. The challenge for Invesco Perpetual now is to ensure that new manager Mark Barnett is supported in the right way and by the right people.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
City of London Ord427.54 GBP-0.92
EdenTree Amity UK A259.90 GBP0.43
Fidelity Special Situations4,018.14 GBP-0.59
GAM Global Diversified Inc3,790.52 GBP0.06
Invesco High Income UK Inc387.50 GBP-0.47
Invesco Income UK Inc1,520.96 GBP-0.47
Keystone Ord341.80 GBP-1.21
Perpetual Income & Growth Ord321.02 GBP-0.77

About Author

Jackie Beard, FCSI

Jackie Beard, FCSI  is Director of Manager Research Services, Morningstar EMEA

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