Invesco Perpetual manager Neil Woodford is positioning his UK portfolios for a lack of global cyclic...
Invesco Perpetual manager Neil Woodford is positioning his UK portfolios for a lack of global cyclical recovery. Woodford has been prepared to go against consensus expectations in the past, most recently when he refused to hold any telecoms during the rise in new economy stocks. He said neither the US, UK, Japanese nor European are able to supply recovery this year. Woodford, who runs the £2.78bn High Income and £819m Income unit trusts, said: 'We are in for a continuation of the difficult period we have endured for two or three years. It is unrealistic to expect earnings recovery give...
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