You are here: Home - Investing -

Neil Woodford to launch new UK equity income fund in May

Written by:
Neil Woodford is to use a three-week offer period to launch a new UK equity income fund when he joins Oakley Capital this May.

The star manager, who is handing over his Invesco Income and High Income funds to Mark Barnett in April, will launch a new Income fund sitting in the IMA UK Equity Income sector in May, a source at Oakley confirmed to Your Money’s sister title, Investment Week.

The fund will have an offer period which will likely run for three weeks to incorporate the bank holiday in May, the source added.

The news comes days after it emerged Woodford’s new firm – named Woodford Investment Management (WIM) – had been set up in the middle of January, at the same address as Oakley Capital.

It had already been announced Woodford’s new venture would use Oaley Capital’s infrastructure.

WIM was set up by Nicholas Hamilton and Richard Graham Catherwood Smith. Hamilton is an ex-Invesco Perpetual employee.

Hamilton, head of institutional business at Colonial First State in Sydney, will return from Australia to work at Oakley Capital Management in Woodford’s retail asset management business when he joins on 1 May 2014.

Prior to joining Colonial First State, he spent nine years as head of global equity products at Invesco Perpetual.

The appointment follows the news Craig Newman, former head of sales at Invesco Perpetual, has joined Oakley as head of retail asset management.



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.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
‘Dismal’ rates keep savers away from cash ISAs

The number of people saving into a cash ISA is set to fall by 9% this year, as dismal rates...