Neil Woodford to disclose £1.6 billion portfolio

Neil-WoodfordWoodford Investment Management, the newly created asset management company set up by Neil Woodford, is to disclose its entire portfolio each month on its website.

The firm, which raised £1.6 billion (€1.9 billion) during the offer period for its CF Woodford Equity Income Fund between June 2 and June 19, will start the disclosure in July.

Woodford Investment Management is disclosing the portfolio in a commitment to transparency.

Craig Newman, chief executive at the business, says: “We want to be open and transparent with our investors and this is why we will publish the fund’s entire portfolio on the website so that everyone can see where their money is invested, rather than just the top ten holdings as many companies do. We expect this to be available by mid-July.”

A further way in which Woodford signals its ambitions to challenge fund management practices is by absorbing fund-related expenses into the fund’s annual management charge (AMC), which means the AMC and ongoing charge are the same.

Meanwhile, Neil Woodford himself, who is head of investment, says he is “really excited” with his portfolio. He says he has met businesses in recent weeks that have “immense potential and offer fantastic investment value”.

The CF Woodford Equity Income Fund aims to provide investors with long-term appreciation by investing in stocks primarily listed on the UK stock exchanges, with up to 20% invested in international companies, delivering a yield 10% higher than the FTSE All Share Index yield.

Woodford, the former UK head of equities at Invesco Perpetual, announced the launch of his business in May.

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