Woodford's 10-year succession plan to leave legacy at Invesco Perpetual

WOODFORD ON SUCCESSION

Neil Woodford has set the wheels in motion for what could be a decade-long succession process to ensure the UK's most revered manager leaves behind a lasting legacy at Invesco Perpetual.

While Woodford, 50, said he intends to run his income funds for many years to come, he is in the process of building a strong investment capability with talented managers able to step into the breach when the time comes. A lasting legacy is important for Woodford and could also be crucial in ensuring the continued success of Invesco Perpetual in the future. Key-man risk is evident at a number of fund houses across the UK and none more so than at Invesco Perpetual, which has an overwhelming majority of its assets under the control of Woodford and top bond duo Paul Causer and Paul Read....