Woodford: Why I have become more cautious on equities

Neil Woodford, manager of Invesco Perpetual's £20bn Income fund range, has become more cautious on UK equities after a strong six-month showing from the FTSE 100.

Woodford, running the ever-popular Invesco Perpetual Income and High Income funds, argues the UK's economic environment remains extremely challenging. As such, he said investors need to remain focused on the very real risks caused by low growth, adding many have overlooked the disappointing corporate news flow recently. "At a time when the UK stock market appears more relaxed about the risks facing the world economy and financial markets, we have become a bit more cautious," said Woodford. "The environment is still very challenging in a real sense, but financial markets have been p...