You are here: Home - Investing -

Investors withdraw ‘up to 10%’ of assets from Woodford funds

Written by:
Investors have withdrawn up to 10% of their assets from Neil Woodford's funds following the announcement the manager is to exit Invesco Perpetual and start his own firm next year.

Woodford, manager of the Invesco Perpetual Income and High Income funds, announced his departure on October 15.

Sources close to the situation told Your Money’s sister title Investment Week the two funds, which totalled £24.7bn before the announcement, have lost as much as 10% of their assets since his exit was revealed, with investors rushing to the door rather than opting to wait and see how the handover goes.

A number of leading UK brokers, such as Hargreaves Lansdown, Bestinvest and Chelsea Financial Services, have placed the funds under review until Woodford hands them over to his successor, Mark Barnett, in April.

However, some discretionary fund managers have gone further, with both Brewin Dolphin and Heartwood Wealth Managers among the DFMs removing positions in Woodford’s funds following the news.

Invesco is also refusing to disclose redemption information to brokers. Emails seen by Investment Week reveal the company has told staff not to discuss redemption figures despite requests from brokers for information.

A spokesperson from Invesco Perpetual declined to comment.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week