The hunt for Invesco Perpetual's lost billion

After Neil Woodford (pictured) announced his departure from Invesco Perpetual on 15 October, it was inevitable there would be outflows from his income funds, which had assets of around £25bn. Just two weeks later around £660m had left the £10.6bn Invesco Perpetual Income fund, while investors had pulled £420m from the £14bn High Income offering. The figures are modest given the size of the funds and Woodford’s uniquely high profile. By comparison, Richard Buxton’s former fund, Schroder UK Alpha Plus, has nearly halved in size since he left for Old Mutual Global Investors, with £1.5bn ...