Woodford bearish on UK economy

Invesco Perpetual's Neil Woodford has moved his multi-billion pound portfolios towards overse...

Invesco Perpetual’s Neil Woodford has moved his multi-billion pound portfolios towards overseas earnings as he becomes increasingly bearish on the UK economy. He calls the current UK market “pregnant with risk” and said current conditions are the worst they have been for 15 years. “When you look at the portfolio, most of the holdings outside domestic utility plays are all global businesses,” he added. For stocks like Vodafone, BP, Shell and GlaxoSmithKline, Woodford said the UK economy is basically irrelevant to their overall performance. He highlighted the poor outlook for the UK as th...