After 25 years, Neil Woodford is leaving investment manager Invesco Perpetual to start his own fund management firm. The news has rocked the British investment world.
In an industry stuffed with mediocrities who overcharge their clients, he stands out as one of the few individuals who delivers outstanding returns on other people’s money, more than justifying his management fees.
Since he began running the Invesco Perpetual High Income Fund 25 years ago, it has returned 2,213%. That compares with 555% for the average UK equity fund, and 1,326% for the FTSE All-Share index.
Although his recent performance has [...]
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