UK fund brokers suspend Woodford's ratings on departure news

Anna Fedorova
clock • 3 min read

News that the UK's best known fund manager Neil Woodford is leaving Invesco Perpetual after 25 years has caused leading fund brokers to suspend their ratings of his portfolios.

Woodford (pictured), head of UK equities at Invesco Perpetual, running £33bn in assets, has shocked investors by announcing his planned departure from the company next April. As a result, major fund brokers such as Hargreaves Lansdown, Whitechurch Securities and Chelsea Financial have suspended their ratings on his Income and High Income funds. Chelsea has downgraded the Invesco Perpetual High Income and Income to a hold and removed the High Income fund from its Core Selection list. Invesco Perpetual Monthly Income Plus and Distribution funds have also been downgraded to a hold, ev...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

'Significant price pressures' ahead as retail faces £7bn of additional costs
UK

'Significant price pressures' ahead as retail faces £7bn of additional costs

‘End of falling inflation’

Sorin Dojan
clock 26 November 2024 • 1 min read
Bank of England to embark on largest reform since gaining independence following Bernanke review
UK

Bank of England to embark on largest reform since gaining independence following Bernanke review

‘Largest reform’ since 1997

Sorin Dojan
clock 25 November 2024 • 2 min read
CBI chief warns Reeves of Budget's dent to profits and investment
UK

CBI chief warns Reeves of Budget's dent to profits and investment

Rain Newton-Smith speech

Linus Uhlig
clock 25 November 2024 • 2 min read
Trustpilot