Could Invesco Perpetual High Income fund be the next Woodford?

[Deleted User]

£8 billion still in the fund - given the strategy still mirrors that of its former manager, could performance turn from dire to disastrous?

Aretnap

To the extent that it mirrors Woodford's strategy, it seems to be mirroring his strategy in the days when he was a successful investor in FTSE100 companies rather than when he was a wannabe venture capitalist. Top 5 holdings BP, BAT, Next, L&G, Tesco. All highly liquid large companies very unlike those which caused Woodford his (biggest) problems.

Performance has not been exactly spectacular of late, but it seems a very different sort of fund to the one Woodford Equity Income was, or became.

[Deleted User]

Accounts for 20%

talexuser

No, it's just dire, only hope is a sterling bounce and upturn of UK markets comes with a Tory victory and Brexit certainty. but it's dubious that would undo much of the underperformance. I dumped it several years ago.

Prism

Although it doesn't hold the unquoted companies that Woodford did, it still has a high allocation to relatively illiquid small and micro cap companies. I wouldn't invest

[Deleted User]

But yes, the choices look stolid, rather than desperate.

Hope the fund recovers, particularly as the majority of its investors are probably loyal and slow-footed.

poppy10_2

Don't think it will get frozen like Woodford as it's not quite as bad, but Barnett's Invesco has pretty much mirrored most of Woodford's failed investments since 2014. The High Income fund is littered with utter dross like 4D pharma, Idex, ThinFilm, Xeros, Circassia, hVivo, Nexeon, Amigo, Ombu, Safe Harbour, Evofem, Oxford Nanopoor, Tissue Regenix, Mereo etc. Most of these should never have been anywhere near an income fund let alone a high income fund as they were speculative stocks bought in the anticipation of capital growth. Most have fallen 90% plus (if they are still quoted) and have no prospect of either growth or ever paying a dividend. The performance on Barnett's funds will be dragged down by these for years, especially as the new managers of Woodford's funds start dumping them. Avoid.

[Deleted User]

Currently 7.9498

Likely to get worse?