The best-known and most-popular income fund manager Neil Woodford has quit Invesco Perpetual to set up his own firm.
Following the announcement that Neil Woodford will leave Invesco Perpetual in April 2014, Morningstar OBSR has placed the Morningstar OBSR Analyst Ratings of the following funds Under Review:
Invesco Perpetual Income ( Gold Rated)
Invesco Perpetual High Income ( Gold Rated)
Invesco Perpetual Monthly Income Plus ( Gold Rated)
Invesco Perpetual Distribution Fund ( Gold Rated)
Morningstar OBSR analysts plan to meet with the fund managers shortly to assess their future plans for the funds.
Emma O’Neill, senior investment research analyst for Morningstar OBSR said: “Neil Woodford is one the true long term investors, who is not afraid to stand out from the crowd. This was never more evident than during the TMT bubble, when he stayed true to his value investment philosophy and avoided many of the overpriced technology stocks. This was an uncomfortable stance for a period of time but investors subsequently benefited enormously.”
Morningstar closed-ended analysts have also placed the following trust Under Review
Edinburgh Investment Trust (EDIN)
The Woodford run trust has previously held a Gold rating. Investment trust analyst Jackie Beard said that although the board has yet to confirm who they will appoint as the new manager in April 2014, as a precautionary measure the team are placing the investment trust Under Review.