Invesco Perpetual may have to overhaul its investment trust range should it retain the £1.4bn Edinburgh trust mandate after the departure of manager Neil Woodford, analysts have said.
News of Woodford's (pictured) impending departure to set up a rival fund management business has led to speculation he will seek to take the mandate with him. But in a letter to shareholders last week, the board of Edinburgh hinted it will look to remain with Invesco Perpetual, noting the succession plan in place, and paving the way for Woodford's replacement Mark Barnett to take over the trust. "We are mindful that, as has been the case since we appointed Invesco Perpetual, working with Neil is a highly experienced investment team backed by the resources of a global company," said ch...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes