Neil Woodford
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Neil Woodford is head of investment for Invesco Perpetual in the UK [1]. He runs the Invesco Perpetual Income, and Invesco Perpetual High Income funds, with respectively £4.17 billion [2] and £6.69 billion in assets [3]. The High Income Fund is Britain's largest investment fund, and accordingly has considerable influence over the sectors he invests in - describing [4] negotiations with government over water pricing, he said: "We had a meeting with a minister only last week. If we can't get an attractive, risk-adjusted return, then they won't get the infrastructure investment they want. We're not a charity."
The High Income fund has grown in value by 292.5% (14.7% annualised) over the past 10 years, while the Income fund has grown 301.7% (14.9% annualised) over the past 10 years. Both funds adopt a High Yield approach to investing, as they are in the Equity Income sector, focusing on companies that pay a high dividend yield. Current holdings are focused on the tobacco, banking, telecoms, and utilities sectors, which all have a high dividend yield relative to the share price, as a result of perceived risks (respectively legal action from smokers/health bans, bad debt, charging pressures and regulator action) restricting share price rises.
He claimed in October 2004 [5] that UK house prices would fall 30-40% over the next four years: though since that time prices have continued to rise.
