Invesco Perpetual has implemented a dilution adjustment to the price of Neil Woodford's Income and High Income funds, moving to bid pricing on both portfolios after a recent surge in outflows.
Invesco Perpetual may have to overhaul its investment trust range should it retain the £1.4bn Edinburgh trust mandate after the departure of manager Neil Woodford, analysts have said.
Investors have withdrawn up to 10% of their assets from Neil Woodford's funds following the announcement the manager is to exit Invesco Perpetual and start his own firm next year.
PSigma Investment Management CIO Tom Becket has sold out of the £11bn Invesco Perpetual Income fund after ten years following news of manager Neil Woodford's departure.
LIFE AFTER WOODFORD
Neil Woodford was among those awarded honours by Prince William at Buckingham Palace yesterday, days after he announced his departure from Invesco Perpetual.
The Edinburgh investment trust has tumbled a further 5% this morning as investors continue to sell out, moving on to a discount following Neil Woodford's surprise move.
Key Neil Woodford holdings including Capita and BAE Systems dropped sharply in late trading yesterday as news of the manager's 2014 departure from Invesco Perpetual filtered through.
Today Invesco Perpetual revealed Neil Woodford, the most famous fund manager in Britain, is leaving next year to launch his own business.