Woodford and Mott reap rewards of defensive stance

Income sector heavyweights return to form after paying the price for anti-cyclical stance.

Two of the investment world’s best known income fund managers have returned to the top of the charts recently as their focus on defensive sectors finally begins to reap rewards. Neil Woodford, manager of Invesco Perpetual’s behemoth High Income and Income portfolios - worth a combined £19.5bn - and PSigma’s Bill Mott have started to gain the edge ahead of competitors following an early switch to pharmaceuticals and other mega caps. Both managers are among a number of high-profile names conspicuous by their absence from the top performers over three years  largely due to maintaining a ...