Edinburgh IT falls sharply as Neil Woodford announces his exit


#1

The manager of Edinburgh Investment Trust Neil Woodford, arguably the UK’s most popular manager, is leaving Invesco Perpetual in April 2014 to start h
[See the full post at: Edinburgh IT falls sharply as Neil Woodford announces his exit]


#2

Bloody hell that is a shock! I have both Edinburgh and the High Income fund.

Why haven’t they said anything about who is the new manager of Edinburgh?

And who is Mark Barnett? Is he any good?

I’m just wondering if I should sell my shares as well before they fall any further.


#3

Well I don’t think Invesco Perpetual can tell Edinburgh who the new manager will be I think they need to agree it with them because they have their own board.

I found this from the Board…
PR Newswire

London, October 15

                  The Edinburgh Investment Trust plc

HEADLINE: Management arrangements

The Board has been informed by its manager, Invesco Asset Management Limited,
that Neil Woodford, who is the Company’s portfolio manager, will be leaving
Invesco Perpetual in April 2014. The Board has been assured by Invesco
Perpetual that this will not result in any immediate change to the Company’s
management.

The Board will review carefully with its manager their proposed future
arrangements for the management of the Company and will make a further
announcement in due course.

Contact: Jim Pettigrew, Chairman

0207 065 3555

Graeme Proudfoot - Invesco Asset Management Limited

020 7065 3519


#4

Thanks @alexbarr

I hadn’t seen that.

I hope when Woodford starts his new funds he opens an investment trust though if not I’ll buy a unit trust instead.

The board need to say something soon though because it’s more than a little bit unsettling not knowing. I am tempted to sell just because I know if they appoint someone who aint up to the job the shares will tank the wrong way. I’ve seen it happen before.