Laith Khalaf: Does the Barnett formula deserve a second chance?

Mark Barnett ended his long career at Invesco under a cloud of significant underperformance, following his replacement as investment manager on both the Edinburgh investment trust and the Perpetual Income and Growth trust. The new Tellworth UK Income and Growth fund is a blend of old and new. Gone are the unquoted holdings which caused so much turmoil for investors of both Barnett and his predecessor on the Invesco funds, Neil Woodford. Likewise, there is a strict limit of 20% on smaller companies within the portfolio. But the investment philosophy is fundamentally the same, looking f...