Neil Woodford unveils new venture

Neil Woodford’s new project at Oakley Capital will see him run money branded under his own name, Fundweb can reveal.

Woodford Investment Management LLP was incorporated on 15 January 2014. The firm is based in the same building as Oakley, which Woodford will join on 1 May.

The firm declined to comment on the news.

When Woodford’s move to Oakley was confirmed, the firm said it would be providing the star manager with the infrastructure he needs to manage retail and institutional clients’ money.

A number of Woodford’s former colleagues have since announced a move to Oakley. Ex-Invesco Perpetual head of global equity products Nick Hamilton will join as chief operating officer while former Invesco Perpetual head of sales Craig Newman has already started as head of retail asset management.

Hamilton is a director of Woodford Investment Management LLP, alongside Richard Graham Catherwoord Smith.

Speculation is still rife over the exact nature of Woodford’s new venture, with some commentators arguing he will remain within UK equity income while others are tipping a move into a new area such as private equity.

Oakley Capital, which has assets under management of more than $1bn, is best known as the part owner of Time Out magazine.