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Woodford to leave Invesco

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Comments

  • jimjames
    jimjames Posts: 18,875 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    A_Flock_Of_Sheep wrote: »
    IP High Income was down 14p overnight - quite a drop. That is the Acc Version.

    Any drop is based on the shares held not any prospect of change of manager. Much as IP and Neil might like to think they have the power to move markets people wouldnt sell shares generally just because one company has announced a manager leaving.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • joerugby
    joerugby Posts: 1,180 Forumite
    Part of the Furniture Combo Breaker
    A_Flock_Of_Sheep wrote: »
    IP High Income was down 14p overnight - quite a drop. That is the Acc Version.

    I was surprised at that this morning but when I checked all my other UK equity income funds (the usual suspects) were down too.
  • melbury
    melbury Posts: 13,251 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
    A_Flock_Of_Sheep wrote: »
    On another note any recommendations for a cheap tracker?

    Interestingly the EDIN IT had fallen sharply by over 5% intraday simply on the basis Woodford is leaving Invesco.

    I started paying into the Fidelity Moneybuilder World Index Fund a few months ago and it is currently worth a few pounds more than I have paid in;) I think the fund was only launched last December, so no statistics on it yet. Very low fees.
    Stopped smoking 27/12/2007, but could start again at any time :eek:

  • melbury
    melbury Posts: 13,251 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
    I bought shares in the Perpetual Income & Growth Investment Trust when it was launched years ago on the strength of Neil Woodford being the fund manager. However, he seemed to disappear after a while and then Mark Dampier took over and the fund has been doing very well.
    Stopped smoking 27/12/2007, but could start again at any time :eek:

  • talexuser
    talexuser Posts: 3,541 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    High Income up 1.2% today - twice or nearly twice as much as my other income funds. Just goes to prove..... nothing!
  • redbuzzard
    redbuzzard Posts: 718 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    melbury wrote: »
    I bought shares in the Perpetual Income & Growth Investment Trust when it was launched years ago on the strength of Neil Woodford being the fund manager. However, he seemed to disappear after a while and then Mark Dampier took over and the fund has been doing very well.

    Do you mean Mark Barnett? Damper is the snoozer at HL.
    "Things are never so bad they can't be made worse" - Humphrey Bogart
  • Richard_DandR
    Richard_DandR Posts: 111 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    A_Flock_Of_Sheep wrote: »
    IP High Income was down 14p overnight - quite a drop. That is the Acc Version.

    Could be Invesco have moved the OEIC shares to a bid basis.

    OEICs have three potential prices - bid, mid or offer..

    If there are a lot of buyers of the OEIC, the manager would move the shares to offer and if mostly seller, would price at bid.
  • talexuser
    talexuser Posts: 3,541 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Richard_DandR wrote: »
    Could be Invesco have moved the OEIC shares to a bid basis.

    No, High Income does not have a bid offer spread, it is single price.
  • thelawnet
    thelawnet Posts: 2,584 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    talexuser wrote: »
    No, High Income does not have a bid offer spread, it is single price.



    They can introduce a dilution levy at some point in the future if there are too many sellers.
  • melbury
    melbury Posts: 13,251 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
    redbuzzard wrote: »
    Do you mean Mark Barnett? Damper is the snoozer at HL.


    OMG, sorry about that, I had been reading an article from HL.

    Getting my Mark's confused - of course it is Barnett:o He seems very good.
    Stopped smoking 27/12/2007, but could start again at any time :eek:

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