Barnett prepares to take 'unpredictable' approach to Invesco outflows

Invesco Perpetual's Mark Barnett has said he will take an ‘unpredictable' approach to mitigating potential outflows when he takes over Neil Woodford's equity income funds in April.

Woodford's Invesco Perpetual Income and High Income funds saw outflows of £3bn between October and the end of 2013, according to Morningstar figures, though performance remains top quartile. Barnett, who will take over the funds in April when Woodford leaves for Oakley Capital, said he was prepared for further redemptions at that point and had plans on how to deal with such an eventuality. "[I will try] to fund redemptions in a way which is unpredictable and as anonymous as possible. You don't want to make the changes where the market sees it coming," he said. The manager remains t...