“Any new high income fund would need to be significantly different to Neil Woodford’s exiting income fund to add value and would also need to honour the high income name and the fund objectives, which they have indicated it would do,” Lowcock said. “Woodford is an excellent manager and has proven successful at delivering returns for investors, however, he does so without the constraints of chasing yield for yields sake. A fund with a significantly higher yield will be more restricted and might not deliver the same long term performance we have come to expect from Neil Woodford.”
Chief executive of Woodford Investment Management Craig Newman said: “We’re currently speaking to private investors, intermediaries and platforms to glean views and appetite for a new equity fund targeting a higher income.”
