{"id":264,"date":"2019-01-13T04:12:46","date_gmt":"2019-01-13T04:12:46","guid":{"rendered":"http:\/\/forefrontnews.cn\/finance2news\/?p=264"},"modified":"2019-01-13T04:12:46","modified_gmt":"2019-01-13T04:12:46","slug":"ill-come-good-says-invescos-mark-barnett-as-he-is-judged-84th-of-85","status":"publish","type":"post","link":"http:\/\/forefrontnews.cn\/?p=264","title":{"rendered":"I’ll come good, says Invesco’s Mark Barnett as he is judged 84th of 85"},"content":{"rendered":"

One of the country\u2019s top fund managers, dubbed by some financial experts as \u2018son of Neil Woodford\u2019, insists his \u2018well-tested investment process\u2019 will eventually come good.<\/p>\n

The claim, made by Mark Barnett of major investment house Invesco, comes as the latest performance statistics show he is delivering returns for fund investors way below those of all his immediate rivals bar Woodford.<\/p>\n

Barnett replaced Woodford as head of UK equities at Invesco in early 2014 after the latter set up his own investment group. He now manages Invesco Income and High Income, the two multi-billion pound funds previously run by Woodford, as well as two other UK-focused funds and investment trusts Edinburgh and Perpetual Income & Growth.<\/p>\n

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Others describe him more cruelly as the \u2018David Moyes\u2019 of Invesco, as big a let-down as Moyes was when given the job of succeeding Sir Alex Ferguson at Manchester United.<\/p>\n

Patrick Connolly, a chartered financial planner with Chase de Vere, continues to hold Invesco Income and High Income for clients. But he has not recommended the funds for more than a year.\u00a0<\/p>\n

He says: \u2018Barnett has underperformed significantly. This is for a number of reasons including a focus on domestic UK companies that have been hurt by a weak sterling.\u2019<\/p>\n

\"Free<\/p>\n

On Friday, Invesco acknowledged that Barnett\u2019s underperformance had resulted from the funds\u2019 exposure to sterling and UK-sourced revenues, a refusal to invest in mining companies (which had performed strongly), and \u2018isolated stock challenges\u2019.<\/p>\n

But it remains convinced the most compelling investment opportunities within the UK stock market are be found in the domestic sectors that Barnett\u2019s funds are heavily exposed to.\u00a0<\/p>\n

It added: \u2018Mr Barnett continues to evaluate and re-evaluate the holdings in the funds, seeking the best opportunities to create a sustainable flow of dividend income. He believes at a time of irrational market pricing, it is vital he remains rooted to his investment strategy.\u2019<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the country\u2019s top fund managers, dubbed by some financial experts as \u2018son of Neil Woodford\u2019, insists his \u2018well-tested investment process\u2019 will eventually come good. The claim, made by… <\/p>\n","protected":false},"author":1,"featured_media":265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[74,66,75,73,27],"views":86,"_links":{"self":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts\/264"}],"collection":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=264"}],"version-history":[{"count":0,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/posts\/264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=\/wp\/v2\/media\/265"}],"wp:attachment":[{"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=264"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/forefrontnews.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}