Fund buyers and analysts have broadly backed the management team behind the reopened Income Focus vehicle formerly run by Neil Woodford, but questions remain with regard to fees, portfolio manager past performance and the cost of shedding the new-look portfolio’s former holdings.
Aberdeen Standard Investments (ASI) confirmed last week the LF ASI Income Focus fund would reopen under new managers Thomas Moore and Charles Luke, who are still in the process of offloading Woodford's favoured domestically-focused stocks and replacing them with more internationally-facing businesses. Having "sold down [the] structurally challenged companies", as well as shifted to a larger average market cap, the LF ASI Income Focus fund already looks radically different from its previous iteration, with the top ten holdings entirely changed under Moore and Luke. Notably, the p...
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