Leading fund manger Neil Woodford believes the UK may be in recession by the end of next year. he states fears that the a downturn in the housing market may affect consumer confidence in other areas of the economy.He runs £20 billion worth of money in various funds. In the last 5 years £1000 invested in Woodford's High Income Fund has returned £2610 compared the the FTSE 100 which would have returned £2100.
Recently he has favored utility companies, the oil sector, telecoms and a number of stock specific situations such as Tesco.
He is most famous for investing significant amounts in tobacco companies , which generate huge profits.
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