Will Invesco be the next victim of key man risk?

WOODFORD EXIT

What will Neil Woodford's departure mean for Invesco Perpetual's asset base?

Woodford, who runs over £30bn of assets at Invesco, is to leave next April to set up his own fund management business. The group's Mark Barnett will take over his Income and High Income funds. Woodford's status at the group, along with the timing of the announcement (almost 25 years to the day since he joined), means it is inconceivable that the news caught Invesco by surprise. The introduction of a multi-asset capability, spearheaded by several former members of the Standard Life GARS team, shows the group has other strings to its bow, as does the continuing presence of Paul Causer a...