Neil Woodford has outlined normalising valuations and improving fundamentals in the UK as two themes he expects to unfold this year, benefiting his underperforming funds which are "appropriately positioned" to take advantage of them.
Commenting in his latest year-to-date roundup, Woodford said he expects the investment backdrop to look "very different to the one that has prevailed for the last two years", outlining a number of changes he anticipates will take place over the course of 2018. He also said he is confident that his funds - the flagship £7bn Woodford Equity Income fund, the £675m Income Focus fund and the £625m Patient Capital trust - are positioned appropriately to respond to these changes. The manager has been under pressure in recent years as his funds have fallen behind their peers and benchmarks. ...
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