Woodford's Income fund sheds £550m in a day as outflows mount

Neil Woodford's Invesco Perpetual Income fund has shed £550m in a single day, according to data from FE, as outflows from his portfolios continue.

FE data shows the Income fund's assets fell from almost £9.1bn at the close of trading on 28 January to just over £8.5bn 24 hours later - a drop of more than 6%. Woodford's larger High Income fund, by contrast, shrank by just £40m over the same period. With the two funds' performance all but identical, the data suggests IP Income suffered a significant redemption last Wednesday. The source of that redemption remains unclear, however: several of the fund's major investors have told Investment Week they are not responsible for the outflow. The sudden drop means IP Income has now s...