Neil Woodford is a manager we have known for many years. The Invesco Perpetual High Income and Income funds he managed until March this year form part of almost every portfolio we manage and have produced excellent long term returns.
Following his departure from Invesco Perpetual Neil Woodford has established his own firm, Woodford Investment Management (WIM), and is due to launch a new Woodford Equity Income fund on 2 June. This launch has generated a great deal of publicity and, given our past experience of Neil Woodford’s fund management skills is something we are monitoring very closely.
We were one of a relatively small number of firms that Neil Woodford and Craig Newman (the CEO of WIM) came to see in the first week after their new business received its regulatory approval. Neil Woodford will focus on fund management and specifically on the CF Woodford Equity Income fund which will commence trading on 19 June. Craig Newman will be responsible for company operations and for building up the business.