Woodford opens £9.4bn fund to overseas investors

Woodford opens £9.4bn fund to overseas investors

Woodford Investment Management has launched an offshore feeder fund to give investors outside the UK access to its £9.4bn flagship equity income vehicle.

The fund house, founded by one of the most prominent names in the British fund management industry, Neil Woodford, launched the Dublin-domiciled Ucits fund on 13 October.

The move means a greater range of investors can tap into the Woodford Equity Income fund, which invests primarily in UK-listed companies and aims to provide a reasonable level of income and capital growth.

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This comes amid speculation that Woodford is considering launching a higher income fund.

The Equity Income fund, which was launched by Mr Woodford back in 2014, has returned 8.2 per cent over the past year, outpacing the UK Equity Income sector, which has returned 7.6 per cent.

Craig Newman, chief executive at Woodford, said launching an offshore feeder fund is a “natural extension” to the fund range. 

“It gives wealth managers based in the Channel Islands and Isle of Man, and clients domiciled outside the UK who supported Neil in the past, the opportunity to invest in his equity income strategy again.”

The feeder fund  will be available in sterling, euro and US dollars, as well as in hedged and unhedged share classes.