Invesco Perpetual: Woodford is not looking at Lloyds stake


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.”

Woodford manages the £14bn Invesco Perpetual High Income fund and £10.6bn Invesco Perpetual Income fund, as well as a number of other portfolios.

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%
5.03% 13.12% 24.90% 48.96% 56.77%
0.74% 5.33% -1.51% 5.97% 7.29%
  35 / 99 3 / 98 56 / 97 18 / 88 19 / 73
2 1 3 1 1

Source: FE Analytics