Where then should Neil Woodford lie in the pantheon of great investors?
The UK’s superstar investor has run the Invesco Perpetual High Income fund since October 1988, but will part ways with the firm next year to set up his own shop.
He has a pretty good record, built in the last 15 years on two good calls in particular: avoiding tech stocks in the late nineties bubble, then applying a similar skepticism to banks before the more recent bear market.
But how would he have fared atop an Omaha insurer? Or picking cheap growth stocks in the US, like the once great Bill Miller? Could he steer a bond market behemoth while writing provocatively, changing his mind and getting away with it? Read more
From our sister publication, FT Adviser…
Invesco Perpetual’s equity income manager Neil Woodford is set to leave the company in April next year. Read more
The spat between the Daily Telegraph and Stobart Group has boiled over on Friday.
The UK’s best known road haulage group says has hit back at claims the Financial Services Authority is examining a deal which will see Stobart buy a property portfolio from its chief executive. Read more
Omega Insurance, a Lloyd’s of London insurer, said on Monday it had received a potential takeover approach from Canopus, a larger private equity-backed rival, reports the FT. Bermuda-based Omega said there was no certainty an offer would be made, nor what the terms might be. The initial approach – the value of which was not disclosed – had proposed an offer of cash and unquoted shares. Omega’s stock has been sliding for the past two years after a £130m ($202m) rights issue and a shareholder revolt led by Neil Woodford, a fund manager at Invesco Perpetual, that last year led to the ousting of the chairman, chief executive and most of the board.
Invesco Perpetual, a top investor in UK infrastructure, has warned utility companies that it will not bail them out if they are forced to turn to raise equity as a result of a harsher regulatory regime. Neil Woodford, Invesco’s head of investment and star fund manager, told the FT that regulators failed to understand the scale of the challenges facing the industry. He spoke after writing to the chairmen of utilities regulators Ofgem and Ofwat, warning them that investments in future projects were at risk if returns available to investors were limited.
Is there something afoot in Zimbabwe? As The Times (via The Australian) reported on Monday, influential UK-based fund manager Neil Woodford, who manages about ₤15bn for Invesco Perpetual, has committed $25m of clients’ money to investment in Zimbabwe.
Woodford bought a 29.5 per cent stake in Masawara, a Jersey-incorporated fund that the Times says will be valued at $80m when AIM trading in the shares begins in a fortnight. Read more