Neil Woodford may be staying on as sole manager of the Invesco Perpetual Income and High Income funds until April 29, but outflows have already started.
While Woodford is the undisputed king of long term income investment, there are some other very attractive offerings in the sector.
Investors should be aware that financial advisers have urged not to panic sell, as Woodford's successor Mark Barnett has an attractive track record and Woodford himself will run Invesco money for the next six months.
Darius McDermott, of Chelsea Financial Services said: “This is probably the biggest news we've ever had in asset management and comes as a bit of a shock. It has huge implications for Invesco Perpetual as Neil currently runs just under half of the £71.8bn assets managed from the Henley Investment Centre.
“The two equity income funds have been the core of many investors' portfolios for years now and it will be a huge blow to thousands of investors that Neil is leaving. If as rumoured, Neil's intention is to start a new asset management business, I imagine it will generate an incredible amount of interest – not to mention assets – from launch. However, I very much doubt he will be able to take on £33bn, so investors face a hard choice."
Here are the top rated five other equity income funds for investors to choose from:
Gold Rated
Silver Rated
Silver Rated
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