Invesco Perpetual's US parent company Invesco saw its shares slide yesterday after the group lost a significant mandate to exiting head of investment Neil Woodford.
Invesco’s New York Stock Exchange-listed shares closed 2.73% lower at $36.65 after St James’s Place announced plans to will split a £7bn mandate formerly run by Woodford at Invesco between his new venture Woodford Investment Management, and Threadneedle's income team. A further £700m mandate will go to Manulife. Woodford Investment Management will run SJP's UK High Income, UK Equity and Income Distribution funds, which have around £3.65bn in AUM. St James' Place has been reviewing its agreement with Invesco Perpetual - which runs a number of income mandates for the group - since it w...
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