Woodford targets high single digit return despite 'challenging' backdrop

Neil Woodford's new income fund will aim to deliver high single digit returns annually, despite a 'challenging' economic backdrop he predicts will weigh on markets.

The star stockpicker, whose new fund launches at the start of next month, told Investment Week investment returns in general will be lower than in the last five years, as the impressive rally has reduced the opportunities available to investors. But he said he expects to be able to outperform the wider market using the successful investment process that has gathered him an unmatched following in the UK over the last decade. "The next five years will be more challenging, and equity returns will be lower, but with my portfolio I can deliver high single digit returns and a sustainable an...