The world’s greatest investors: Neil Woodford
Like any good value investor, says Matthew Partridge, Neil Woodford is prepared to wait for his returns.
Neil Woodford, 56, graduated from Exeter University in 1981. He also studied at London Business School. In 1988, after working for various City employers, he became a fund manager for Invesco Perpetual, running several of its funds. In 2014 he left to set up his own company, Woodford Investment Management.
What was his strategy?
He also believes in holding a concentrated portfolio of carefully selected, high-conviction stocks, rather than spreading wealth thinly over hundreds of stocks. His portfolios also have lower turnover than most comparable funds.
Did it work?
Despite an erratic performance after the financial crisis, his funds held a total of £33bn in assets by the time he left Invesco Perpetual. Over the last two years, his CF Woodford Equity Income Fund has done well, returning just under 20%, compared with an average of 9.7% for similar funds.
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What was his best trade?
What lessons does he have for investors?
