Neil Woodford to leave Invesco and start new fund firm

Neil Woodford, one of the investment industry's most closely watched fund managers is to leave Invesco Perpetual after a 25-year career to start his own business.

In a statement on Tuesday, Invesco Perpetual said Woodford will leave on 29 April and Mark Barnett will succeed him as the firm's head of UK equities and take over management of two funds.

Woodford said in a statement he intends to establish a new fund management business "as soon as possible after 29 April 2014."

"I leave the company on good terms and remain fully committed to my fund management responsibilities at Invesco Perpetual until my departure," he said.

Reuters