Woodford to exit Invesco next April

Neil Woodford is to leave Invesco Perpetual next April to set up his own business, the group has announced.

The UK's best known fund manager, Woodford has massed an army of loyal investors over the last decade. Over the last five years he has returned 67.1% and 66.3% for investors across his High Income and Income funds, versus a sector average of 63.9%. Invesco Perpetual said the head of UK equities will remain responsible for all funds for which he is the named manager through a transition period during the six months prior to his departure. At the end of the transition, Mark Barnett will be named manager of the Invesco Perpetual High Income fund and the Invesco Perpetual Income fund. ...