Woodford disappointed by Q1 performance

Woodford, manager of the Invesco Perpetual Income and High Income funds, has seen his vehicles drop into the fourth quartile in the first three months of 2008, down 14.1% and 13.3% respectively. However, Woodford says it is not a time to panic. “It’s disappointing really, we are not much behind the market,” he says. “Short-term performance is something I don’t tend to focus too much on. I certainly feel that short-term performance and anything really below a year… is pretty irrelevant frankly.” Woodford feels the market environment is going to get more difficult, but retreating ...