Barnett to take over management of Edinburgh investment trust

Invesco Perpetual's Mark Barnett is to become manager of the £1bn Edinburgh investment trust as of today, taking over from Neil Woodford ahead of the latter's forthcoming move to Oakley Capital.

The decision for Barnett to take over from Woodford has been made following "careful consideration" of Invesco Perpetual's intentions for the trust, the Edinburgh IT board said. "This has included careful consideration of their investment style and strategy for the portfolio, having regard to the company's twin investment objectives of providing a rising income and long term capital growth, and an assessment of their management resources." The move ends speculation that Woodford may remain as manager of the trust once he moves to Oakley Capital to launch his new fund management ventur...