Neil Woodford

Skandia has u-turned on its decision to close the £640m Skandia Invesco Perpetual Income and High Income funds in favour of Neil Woodford's new Income fund at his own firm.

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Old Mutual Wealth chief executive Paul Feeney has contacted clients to defend a decision to shut the Skandia Invesco Perpetual income funds, pointing to "truly exceptional circumstances" following Neil Woodford's departure.

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.

Neil Woodford's St James's Place fund is in line for a rapid windfall from one of its investments after Daisy Group said its chief executive was plotting a £500m bid for the company.

Net retail sales of UK equity income funds hit a record high of £1.4bn last month, according to the Investment Management Association, as Neil Woodford's new fund provided a boon to the sector.

Jupiter's Merlin multi-manager team have added Neil Woodford's equity income fund to their portfolios as they back the manager's new project from launch.

Neil Woodford's top ten holdings in his Woodford Equity Income fund contain few surprises, with AstraZeneca, GlaxoSmithKline and British American Tobacco the three largest positions.

The St James's Place UK High Income fund and two other portfolios have become the latest to exit the IMA UK Equity Income sector for failing to meet yield requirements.

Woodford Investment Management raised £1.6bn for the CF Woodford Equity Income fund during its offer period this month, the company has announced.