Invesco Income outflows hit 30% but slow in June

Outflows from the Invesco Perpetual Income and High Income funds since news of Neil Woodford's departure have reached 30% of assets - but the launch of his rival fund was seemingly not the major blow some expected.

The 30% figure - which has been offset by a 10% performance gain since the 15 October announcement - comes despite the June offer period for Woodford Equity Income seemingly not sucking away as much AUM as had been feared. While Morningstar estimates a net £6.5bn left the two funds between October 2013 and 30 May this year, Invesco Perpetual figures suggest an easing off in June. With fund performance broadly flat on the month, the Invesco Perpetual Income and High Income funds saw AUM dip to £7bn and £12.9bn respectively - suggesting combined net outflows of around £435m in June. ...