Invesco Perpetual

In the first of a two part series, managers reveal the plays that have contributed to their performance since January.

SPECIAL REPORT

S&P Capital IQ has revealed its pick of the best funds with a decade-long track record, as it introduces a new 10-year grading system.

Neil Woodford has for the first time lifted the lid on why he completely sold out of retailer Tesco, while admitting he was disinclined to do so with the stock trading at distressed valuations.

Paul Read, fund manager at Invesco Perpetual, has urged investors keen to buy into financials to focus on the debt offered by banks and their peers, rather than snap up shares in the companies.

CONTRARIAN

A growing focus on short-term fund performance combined with shorter market cycles is prompting professional investors to protect themselves by raising cash positions.

Neil Woodford's love of pharmaceutical companies has been well publicised over the past few years, but the income investor has been particularly excited about the prospects of a company using pieces of pig to regrow human tissue.

Invesco Perpetual's income stalwart Neil Woodford remains convinced pharmaceuticals are the buy of the decade, stating the sector is now the cheapest it has ever traded.

UK equity income stalwart Neil Woodford has argued further quantitative easing measures in the UK may be stifled by a sharp rise in the oil price.