Update: Woodford to team up with Oakley Capital for new venture

Neil Woodford is to join forces with investment firm Oakley Capital when he leaves Invesco Perpetual next April.

Woodford, who announced his intention to set up his own asset management business back in October, will use Oakley's investment infrastructure to support his new venture. He will join the business on 1 May 2014, the group confirmed today, and will manage both retail and institutional client money. Oakley Capital describes itself as an asset management and financial advisory business, and has made 11 investments since its inception in 2007 - the most prominent of which is stake in Time Out magazine. It has also held an 85% stake in national IFA Broadstone Pensions and Investments si...