Invesco

Neil Woodford is to use a three-week offer period to launch a new UK equity income fund when he joins Oakley Capital this May.

Craig Newman, ex-sales director at Invesco Perpetual, has moved Oakley Capital to work alongside fund manager Neil Woodford.

Invesco has sold almost 17 million shares in the Macau Property Opportunities fund in the latest disposal of stock held by Neil Woodford's Income funds.

M&G has handed Mike Riddell's Emerging Markets Bond fund to former Invesco Perpetual manager Claudia Calich.

EMERGING MARKETS

Shares in the Edinburgh investment trust were selling off this afternoon after the shock news Neil Woodford will be leaving Invesco Perpetual in April.

Neil Woodford is to leave Invesco Perpetual next April to set up his own business, the group has announced.

Sanlam Private Investments (SPI) has reaffirmed its ‘sell' recommendation on Richard Wilmot's £2.1bn Newton Higher Income fund, arguing its recent overhaul has made the fund a less attractive option for income seekers.

The Investment Management Association (IMA) has removed a further two funds from its UK Equity Income sector for undershooting minimum yield requirements over the past three years.

More than 20 fund management groups are to set to make a formal offer to buy 315 Royal Bank of Scotland (RBS) branches, the Sunday Times reports.