Woodford could face income sector expulsion at end of 2013

The Invesco Perpetual fund – the largest single asset offering in the UK – is lagging IMA requirements that UK equity income funds produce a yield of 110% of the FTSE All Share on a rolling three-year basis. According to IMA data, the fund had a year-end yield of 3.9% in 2011, in line with 110% of the All Share. But last year the fund yielded 3.7%, below the required 3.9% mark. That means the portfolio must yield 117% of the index at the end of 2013 in order to fulfil sector requirements. As of the end of April 2013, High Income had a historic yield of 3.23%, according to Invesco P...