Skandia has handed a £640m life mandate currently run by Invesco Perpetual's Mark Barnett to Neil Woodford, in a move Hargreaves Lansdown analysts suggest may be the first of many.
Skandia said it is switching money from the Skandia Invesco Perpetual Income and High Income life mandates - run by Barnett since March this year - into the CF Woodford Equity Income fund, following client demand. Skandia's multi-billion life range offers its personal pension clients a wide range of funds, but it will now close the two Invesco portfolios, replacing them with Woodford's fund later this year. A Skandia spokesperson said: "The Invesco Perpetual funds were previously run by Neil Woodford, and following client demand we are making this change so our clients can still have ...
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