Introducing the CF Woodford Equity Income Fund

Posted by Jason Chapman in Fund and industry updates category on 15 May 14

Woodford launch

Introducing the CF Woodford Equity Income Fund

Having been a successful fund manager for more than 25 years, Neil's approach is investing in companies only when he is convinced of the compelling long term opportunity - he will not invest in stocks just to make the funds look more like the index.  

For those of who do not know of Neil's impressive track record, he has successfully managed both the Invesco Perpetual Income and High Income funds. He also famously avoided the technology crash, when many of his peers had their fingers burned.

His new fund will sit in the IMA's UK Equity Income sector, aiming to offer investors a growing income stream, paid quarterly, and capital growth simultaneously.  

Neil Woodford in Conversation:

Fund Objective:

To provide investors with long-term appreciation through investing in stocks primarily listed on the UK stock exchanges. It may invest up to 20% in international companies.

Fund Facts at a Glance:

Fund Name CF Woodford Equity Income Fund
Fund manager Neil Woodford
Income objective 10% higher than the FTSE All Share Index yield
Anticipated yield* 4.0%
Launch date 2 June 2014
Launch price £1.00
First day of trading 19 June 2014
Income distributions Quarterly (XD March, June, September, December)
Available in ISA? Yes
Initial charge Nil
Annual management charge 0.75%
Exit penalty Nil
Switch fee Nil
* Based on 1.1 x current FTSE All Share dividend yield as per IMA sector guidelines

How to Invest

There will be a pre-launch offer period from 2 June - 19 June, with units priced at £1 and the price may change after this date.  To make the most of the £1 share price please make sure that your instructions are received by the following dates:

Paper Switches - Monday 16 June - by 1pm in the post
Online Switches - Tuesday 17 June - by 11am online
Paper Top Ups - Wednesday 18 June - by 1pm in the post
Online Top Ups - Thursday 19 June - by 11am online

Woodford Investment Management is discouraging direct investors by offering an ‘A’ share class carrying an annual management charge of 1% and a minimum investment of £150,000.  Don't worry, this is not unusual in this day and age, as most providers would like to focus on their investment expertise and let platforms carry out the administration.  Therefore, you will be able to invest in this new fund via Willis Owen by holding your investment on a platform such as Cofunds.

Important Documents

Woodford Investment Management Key Investor Information Documents (KIIDs) and Prospectus:

Cofunds Documentation:

  • Key Features of the Cofunds Platform
  • Terms and Conditions
  • Cofunds Junior ISA Key Features
  • Cofunds Junior ISA Terms & Conditions
Application Forms

  • ISA Application Form
  • ISA Transfer Application Form
  • Switch Application Form
  • Junior ISA Application Form

Buy online

You will be able to purchase this fund online from 2 June 2014.

Keep updated

If you haven't already done so, but would like to be kept updated with regards this new fund launch, you can register your interest below.

Register here

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