Woodford Income Focus fund raises £553m at launch

The new fund has not raised as much as the manager's other funds at launch, with the £9.6bn Woodford Equity Income fund raising £1.6bn, and the £765m Patient Capital trust raising £800m. However, £553m was still a significant amount when compared with the average fund launch. As Hargreaves Lansdown senior analyst Laith Khalaf pointed out: "Neil Woodford's new offering has proved a hit with investors, which is not too surprising given his pedigree, low management charges, and the fund's focus on a higher income. "The new fund has not raised as much as the first offering launched by Woo...