Invesco CEO Martin Flanagan has played down analyst concerns over further UK equity income outflows as former employee Neil Woodford prepares to launch his own fund.
Reporting its results for Q1 2014 on the day after Woodford left the firm, Invesco said today it had seen a further £2bn in UK equity income net outflows over the period. That comes after the £2.9bn outflow seen in Q4 2013 following the announcement of Woodford's departure, but does not include the withdrawal of St James's Place (SJP) mandates revealed last month. SJP has pulled almost £8bn in funds from Invesco across UK equity income and a variety of other asset classes, with Woodford's new firm among the beneficiaries. Flanagan acknowledged the decision by St James's Place to wi...
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