Fund Management
Woodford Investment New Fund Launches 2 June Without Oakley Capital

Woodford Investment Management - named after its star man Neil Woodford - will officially launch its first fund at the beginning of next month.
Woodford Investment Management - named after its star man Neil Woodford - will officially launch its first fund at the beginning of next month.
The company also added that it no longer has an operational relationship with private equity backer Oakley Capital Management. In December 2013 it was reported that Woodford would team up with Oakley founder Peter Dubens to launch his new venture but it has been revealed Oakley has no stake in the business. This publication has contacted the persons concerned to find out why the two have parted company and will update readers when more information is revealed.
"We would like to thank Peter Dubens and his team at Oakley Capital Management Limited for their support with the launch of Woodford Investment Management," said Craig Newman, chief executive at Woodford Investment Management.
Neil Woodford heads up the CF Woodford Equity Income Fund focusing on companies that can potentially deliver long-term gains.
The fund will absorb fund-related expenses into its annual management charge, the company said in a statement, and will be made up of four share classes. These include annual management charges of 1 per cent for its A share class, 0.75 per cent for the B share class, 0.65 per cent for the Z share class and 1.5 per cent for the X share class.
“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,” said Newman added. “Many investors are still needlessly paying higher fees as a result of buying directly from fund management companies in the past.”
Earlier this month three fund managers at Invesco Perpetua left the firm to join Woodford's new venture. Fund manager Stephen Lamacraft, along with analysts Saku Saha and Paul Lamacraft, left the firm at which Woodford had served over 25 years and left in October.