Woodford Income Focus fund raises £553m at launch

Launched on 20 March

Neil Woodford's latest mandate, the Woodford Income Focus fund, has raised £553m since its launch on 20 March 2017.

The new fund has not raised as much as the manager's other funds at launch, with the £9.6bn Woodford Equity Income fund raising £1.6bn at launch, and the £765m Patient Capital trust raising £800m. However, £553m is still a significant amount when compared to the average fund launch as pointed out by Laith Khalaf, senior analyst at Hargreaves Lansdown, who said: "Neil Woodford's new offering has proved a hit with investors, which is not too surprising given his pedigree, low management charges, and the fund's focus on a higher income. Fund buyers: Our verdict on new Woodford Income Foc...