'I will be here for decades': Woodford pledges to build major new fund house

Neil Woodford has said he plans to create a major asset management business, rather than a simple boutique, as he begins life at Woodford Investment Management.

The manager (pictured), who left Invesco Perpetual last week in order to start his own firm, will launch the CF Woodford Equity Income fund in June and has big plans for Woodford Investment Management (WIM) in future. "This is not about hobby fund management, this is not about a boutique structure, this is about creating a scaled fund management business," Woodford said. In a video on his new firm's website, the manager added he wanted to focus on his strengths - but also emphasised other core tenets of WIM. "This is about low charging structures, it is also about transparency: mak...