Neil Woodford, fund manager at Invesco Perpetual, will join London-based investment firm Oakley Capital Management in May 2014 to create a new asset management unit.
At Oakley, Woodford will manage both retail and institutional client money and is expected to use the investment infrastructure of the group to establish mainstream funds that will become available to private investors.
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Additionally, Woodford will leverage Oakley’s investment infrastructure to establish a standalone investment boutique affiliated to Oakley.
Woodford, who manages around £30 billion of assets for Invesco Perpetual, will leave the firm in April next year.
Peter Dubens, director Oakely, said: "We will fully support the transition and, in the meantime, we will provide an environment in which Neil can have the autonomy and flexibility to best serve the interests of clients."
Currently, Oakley Capital has assets under management of more than US$1 billion.
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