Woodford sells out of long-standing position in Vodafone

Invesco Perpetual's Neil Woodford has sold his position in Voadafone, a former favourite in his two behemoth income funds.

Woodford has been gradually selling down his position in the telecoms giant over the past twelve months, and recently completely exited the stock. Vodafone was a core holding in both Wooford's funds for many years, worth 4.7% of his £11.9bn Invesco Perpetual High Income fund last April. However, last summer Vodafone dropped out of Woodford's top ten holdings amid fears over the sustainability of its payouts. Mitchell Fraser-Jones, product director for UK equities at Invesco Perpetual, said: "In terms of trading activity, the fund has now completed the sale of its holding in Vodafon...