Invesco Perpetual has refuted reports that head of UK equities Neil Woodford is considering taking a stake in Lloyds.
This morning, the Daily Mail claimed that the manager, who has previously shied away from bank stocks, was in talks to take a 10 per cent stake in the lender when the Government returns it to the market.
However, a statement from the asset management house says: “Invesco Perpetual today confirmed that Neil Woodford has no intention of buying a stake in Lloyds or any other UK focused high street bank at the current time.”
He has avoided banking stocks for a number of years and is famed for concentrating on more defensive parts of the market such as pharmaceuticals.
Invesco Perpetual High Income’s cumulative return to 11 July 2013
|Invesco Perpetual High Income||5.80%||19.14%||23.01%||57.85%||68.19%|
|35 / 99||3 / 98||56 / 97||18 / 88||19 / 73|
Source: FE Analytics