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Woodford Investment Management launches first fund

Woodford Investment Management, a newly created asset management company, will act as investment manager to its first fund, the CF Woodford Equity Income Fund, launching on 2 June 2014.

Neil Woodford, head of investments, will manage the fund.
He will focus on valuation and identifying companies that can deliver sustainable dividend growth, and those that he believes will be dividend payers of the future. He will invest in a company only when he is convinced of the compelling long-term opportunity.
The fund will absorb fund-related expenses into its annual management charge (AMC). This means that the fund’s AMC and ongoing charge will be the same. The CF Woodford Equity Income Fund will have four share classes.
Capita Financial Managers Limited, which has appointed Woodford Investment Management as the fund’s investment manager, will act as the fund’s authorised corporate director (ACD).
Craig Newman, chief executive, Woodford Investment Management, says: “The fund will have a simplified pricing structure. The only fee investors will pay is the AMC – it takes into account the necessary charges levied to manage and administer the fund.
“We are able to keep our fees low, through the use of modern technology and encouraging investors to use fund platforms, execution-only brokers and financial advice channels, rather than buying directly from us. Many investors are still needlessly paying higher fees as a result of buying directly from fund management companies in the past.”
Woodford says: “I will run this new fund in the same way that I have always run money, adopting the same philosophy and the same long-term approach. My passion and energy have never been stronger. Woodford Investment Management has a culture and an environment that gives me the opportunity to focus on investing – and to build a business committed to its clients’ long-term interests.”
Woodford Investment Management no longer has an operational relationship with Oakley Capital Management.

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