Woodford eyes offshore UK Equity Income fund launch

Woodford-Neil-700x450.jpgWoodford Investment Management is planning to launch an offshore feeder version of its £9.2bn Woodford Equity Income fund.

A Woodford spokesperson says: “We are considering the launch of an offshore feeder fund for the CF Woodford Equity Income fund, but no decision has been made when to proceed at present.”

In June, Woodford said it was looking to launch a second equity income fund later this year targeting a higher yield of up to 4.5 per cent.

Woodford Equity Income saw its assets under management drop over £300m in June as it suffered outflows and a performance hit.

The fund saw net outflows totalling £140.8m in the month the UK voted to leave the European Union, while its performance over the same period has dented its size by a further £168.6m.

Its assets under management now sit at £9.2bn compared to £8.9bn before the referendum.