Neil Woodford has unveiled his new asset management company called Woodford Investment Management.
Woodford had previously worked with Invesco Perpetual UK for more than 25 years, and left as its UK head of equities, before joining Oakley Capital Management on 1 May.
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Along with the new company, Neil Woodford will also launch its first fund, the CF Woodford Equity Income Fund, on 2 June. The fund will be managed by him.
According to funds Europe, Woodford reportedly said: "I will run this new fund in the same way that I have always run money, adopting the same philosophy and the same long-term approach."
Oakley Capital Management, which agreed to provide strategic support after the launch of Woodford Investment Management in December, does not have an operational relationship with the company, reports Reuters.
Woodford Investment Management chief executive Craig Newman said: "We are able to keep our fees low, through the use of modern technology and encouraging investors to use fund platforms, execution-only brokers and financial advice channels, rather than buying directly from us."
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By GlobalDataMost of the Woodford’s colleagues at Invesco have also moved to Woodford Investment Management, which include: Craig Newman, formerly head of sales at Invesco Perpetual, who moved to Oakley Capital Management as its head of retail asset management; and Nick Hamilton, formerly head of global equity products at Invesco perpetual, who will join as Oakley’s chief operating officer.
