Investors flock to Woodford's new high-income fund

Added 19th April 2017

Neil Woodford's newest fund has raised more than £550m during its initial offer period.  

Investors flock to Woodford's new high-income fund

Opened for investment on 20 March, the CF Woodford Income Focus Fund raised £553m by the time of its launch date just under three weeks later the firm announced.

The fund, the third launched by Woodford Investment Management, aims to provide investors with a “high level of regular and sustainable income” and target an income of 5p per share per year.

However, the amount did not come close to matching the £1.6bn raised at the launch of Woodford’s flagship Equity Income Fund in June 2014.

Woodford, who will manage the fund himself, said: “I am very excited by the income prospects of the companies within the portfolio.

"In a low interest world, an income-focused equity portfolio is an attractive proposition for investors, while the lack of geographic restraints allows me to access quality income stocks regardless of their location.”

News of the fund’s early success followed news that the Income Focus fund and Equity Income fund dominated sales through The Share Centre in March.

 

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Louise Hill

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Louise joined Portfolio Adviser in December 2016 as one of the editorial team’s news reporters based in London. Originally from Liverpool, she is an NCTJ-qualified journalist and began her career in 2014 working on local newspapers.

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