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Woodford to leave Invesco
Comments
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DaveTheMus wrote: »Woodford sold Vodafone at 160p.......think that might have something to do with why he left....IMO, he's over-rated, like most other fund managers. The only fund I'm involved with is Fundsmith, Terry Smith is first class, only my opinion though.
I am sure there is more to Woodford leaving than personal choice.
I brought into this Fund this year, liked the theory, but performance thus far seems modest compared to the initial froth.
Smith undoubtedly has track record and style but the jury is out as far as I am concerned."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Fundsmith is 65% invested in the US so its hardly an alternative to the largely UK IPHI.0
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I wonder if he feels constrained by both a company that he has worked at for so long and the size of the funds he runs, perhaps he just wants a exercise his ability in a smaller and more nimble environmentgrizzly1911 wrote: »I am sure there is more to Woodford leaving than personal choice.
I brought into this Fund this year, liked the theory, but performance thus far seems modest compared to the initial froth
I've got 20% of my ISA in IPHI and I'll be sticking with it for the moment as I believe in it's objectives and I like equity income. My non-ISA holdings are 25% IPHI and I'll be swapping 5% of that out to Marlborough Multi Cap Income for balance and to make up for any underperformance0 -
Rollinghome wrote: »If the managers see fit, such as when they anticipate a large outflow of funds, they can change the basis of pricing.
Thanks for that. I continue to find new reasons to dislike open-ended active funds, which is always handy.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
perhaps he just wants a exercise his ability in a smaller and more nimble environment
Or wants to spend more time with his money.
I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
I wonder if he feels constrained by both a company that he has worked at for so long and the size of the funds he runs, perhaps he just wants a exercise his ability in a smaller and more nimble environment
I've got 20% of my ISA in IPHI and I'll be sticking with it for the moment as I believe in it's objectives and I like equity income. My non-ISA holdings are 25% IPHI and I'll be swapping 5% of that out to Marlborough Multi Cap Income for balance and to make up for any underperformance
I had equal amounts in IPHI and IPI.
I had held IPHI forsome years, pre GFC and have been happy with its performance and approach. IPI was a more recent addition due to the income phasing between the two.
This news has prompted a review. It has lagged (disproportionately IMO) this year and I have moved the IPHI splitting it in thirds, between Marlborough and Minton multi caps (acknowledging the potential risk and volatility) with another third investment yet to be decided."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Fundsmith is 65% invested in the US so its hardly an alternative to the largely UK IPHI.
Diversification was one of reason for me investing in it."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Tim says all you need are a few cheap trackers and to ignore the noize
On the cheap ETF note does anyone here hold IUKD?0 -
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Hi,grizzly1911 wrote: »I am sure there is more to Woodford leaving than personal choice.
here's what HL have to say,
After more than 25 years at Invesco Perpetual, Neil Woodford has announced he will leave in April 2014 to set up his own fund management business. For the moment, we do not believe investors in his funds need take any action as a result of this news.
Neil will continue to manage the Invesco Perpetual High Income, Income, and UK Equity Pension funds until his departure in April next year, when Mark Barnett will take over. Neil is an exceptional manager and I believe he will continue to work hard at achieving strong performance for investors until he departs. I have a significant holding in Neil's funds and have no plans to sell at this time.
Mark Barnett has worked with Neil Woodford for 17 years, and they will work closely together throughout the transition period. He has built a good track record in his own right managing the Invesco Perpetual UK Strategic Income Fund and the Perpetual Income & Growth Investment Trust.
Neil Woodford is also responsible for managing the equity element of the Invesco Perpetual Distribution Fund (40% of the portfolio) and the Invesco Perpetual Monthly Income Plus Fund (20%). Ciaran Mallon, manager of the Invesco Perpetual Income & Growth Fund, has taken over the equity portion of both funds with immediate effect. The bond portion continues to be managed by Paul Read and Paul Causer, whom we hold in very high regard.
We will be meeting with the new managers shortly, and will update investors with our thoughts. We also await details of Neil Woodford's new venture. In the meantime we have suspended his funds from the Wealth 150, but we reiterate our view that if you are an existing investor, no action is necessary as a result of this news, provided the funds continue to meet your objectives.0
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