View more on these topics

Woodford attracts record £1.6bn of initial inflows

Woodford Neil WIM

Neil Woodford’s new fund, the CF Woodford Equity Income fund, has attracted £1.6bn of inflows during its initial offer period.

Despite receiving the record amount, experts are confident the size of the fund will not hamper the manager’s performance.

Discretionary fund manager Well-ian Investment Solutions senior investment director Chris Mayo says: “He is obviously an exceptional manager and was always going to take in a lot of money. He has run a lot of money before so the volume will not be a worry to him. He is going to take his time to get the right pricing for certain holdings but I think he will be fine with the size of the market he is investing in and it is big enough for him to cope with.”

Bestinvest managing director Jason Hollands expected Woodford to attract more money at launch.

He says: “I think £1.6bn was the bottom end of my expectations as I recently met with some analysts who expected it to be nearer £5bn.

“Neil likes to talk passionately about smaller companies but in the scheme of things he invested in big, blue chip companies. It would be a problem for a lot of fund managers but not for him.”

Three Counties IFA Andrew Alexander agrees the record early inflows should not present a difficulty for Woodford.

He says: “The fact he has attracted £1.6bn is irrelevant. Woodford has already said he is going to manage the fund the same way as before.

“We are talking about a fund that will hold 40 to 45 of the largest, most liquid names, so it will not be difficult with this fund size. It is not like he is coming to market with something completely different.”

Recommended

UK-Currency-Money-Pounds-Notes-700x450.jpg
1

Meeting the FCA’s rules on costs disclosure

Earlier this year, the FCA published two papers that considered the results of the second round of its thematic review looking at RDR implementation. The review was based on information gathered from 113 firms from across the industry, with a follow-up assessment on a sample of them. Both papers highlighted failings.  The findings of the […]

Goodall-Richard-Parmenion-2014
1

SEI’s Richard Goodall joins Parmenion

Platform provider Parmenion has appointed SEI UK business transition managing director Richard Goodall as a partner in the firm. Goodall leaves SEI to take up responsibility for sales and marketing strategy at Parmenion. He was previously sales and marketing director at Ascentric. Prior to this Goodall was sales and marketing director at 1st The Exchange […]

Telephone-Phone-Business-Finance-General-700.jpg
1

Advisers and life offices targeted by bogus protection callers

Fraudsters posing as customers have been targeting advisers and protection providers in a scam to drive calls to a high-rate telephone number. The fraud starts with advisers receiving a call from someone claiming to be interested in taking out a protection policy, requesting a call back to a ‘personal’ number beginning 070. When the adviser […]

Stephen-Womack-MM-Peach-700.png
5

Stephen Womack: Reflecting on my first year as an IFA

This month marks the first anniversary of starting the rest of my working life. It is a year now since I agreed to join David Williams IFA, the Northampton-based chartered financial planners, and to formally leave behind my career as a financial journalist. So it feels a good time to reflect on my first impressions […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com