Invesco Perpetual's Neil Woodford has blamed tobacco stocks for the short-term performance dip on hi...
Invesco Perpetual's Neil Woodford has blamed tobacco stocks for the short-term performance dip on his income funds. Reynolds and British American Tobacco are top 10 holdings for his multi-billion Income and High Income funds and Woodford remains four times overweight the sector compared to benchmark. The manager said recent performance was hindered by holdings in the two tobacco giants. BAT shares flooded the market following rumours that Richemont was planning to sell its stake in the group, while Reynolds American issued a disappointing trading update. He could also be facing a hi...
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