Fund manager Neil Woodford to leave Invesco Perpetual

Woodford one of investment industry’s most closely watched fund managers

Neil Woodford:  to leave Invesco next April  to start his own business after a 25-year career that has given him an almost cult following among British investors.

Neil Woodford: to leave Invesco next April to start his own business after a 25-year career that has given him an almost cult following among British investors.

Tue, Oct 15, 2013, 19:00

Neil Woodford, one of the investment industry’s most closely watched fund managers, will leave Invesco Perpetual to start his own business after a 25-year career that has given him an almost cult following among British investors.

Invesco Perpetual said the high-profile money manager would leave on April 29th. He will be replaced by Mark Barnett as the firm’s head of UK equities, who will take over management of Mr Woodford’s two funds. He will face a tough challenge persuading investors to stick with Invesco, given Mr Woodford’s consistent performance, market participants said.

Invesco chief executive Mark Armour said the firm had planned for Mr Woodford’s departure “for many years”, while industry insiders said Mr Barnett was a well-regarded and able successor. – (Reuters)