Friday, December 07, 2007

Neil Woodford Invesco Perpetual "UK flirting with recession"

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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