Invesco Perpetual High Income

i think the performance of his funds is also enhanced by a lack of "churning" the portfolios and an absence of short-termism.He has the courage of his convictions which is,perhaps,his greatest asset.

how does this fund differ from the Invesco Income % Growth Trust in terms of portfolio held and performance?

any help appreciated

Bruce

Rather than deflation, the risk to the UK economy is stagflation, although that ain't much better for shares either.

Can't see the attractions of big pharma. Referring to 1999/2000 to highlight his success doesn't do him any favours. Perhaps he was stubborn then - and it worked and now and it hasn't.

Just had a look at his record compared with the index UKX:TR - it would appear to track that index very closely for many years. He had some outperformance from - very roughly - 03 to 09, but his recent "underperformance" has put him back with it.

Make up your own mind whether or not this is an (expensive) tracker.

I've held this fund for more thana decade, so I enjoyed the good times. But (now that I've sold out of PSigma) it is the worst performing fund in my portfolio over 3 years and I have been steadily reducing my exposure. I can't see why I would pay high fees to have Woodford hold AZN and GSK when I can hold them fee-free in my own name.

I have greatly reduced my holdings in Woodford's funds due to poor performance of late.Imho,as Manso says,this is just a tracker fund,holding the usual suspects through thick and thin.If he bangs on long enough about his favourite defensive holdings he will no doubt be correct at some stage,but in the meantime, will have cost his holders quite a lot of dosh,through a substantial period of underperformance.

Inflexible,that is what I call his approach.In my search for growth and income,I have spread my investments worldwide.

Chazza - I'm on the verge of selling out of PSigma. God knows why Hargreaves Lansdown rates Dr Bill Mott so highly.

Thar said, I respect Neil Woodford's ability so I'm sticking with Perpetual Income. A poor report from Frank Talbot (Usual Citywire standard) in that no mention is made of Woodford's significant decision to move out of water utilities.

Agree regarding PSigma, I got out a long time back but this was my listening to the hype about Mott being good in the first place - the classic danger of blindly sticking to an individual rather than what is under the bonnet! Have been in and out on Woodward [currently out] but am considering getting back in as things start to look a bit toppish

Woodford's analysis refers only to the UK economy, but as we know the FTSE 100 does at least 75% of its trade with emerging economies which are not subject to deflation, higher taxation or public spending cuts. The performance of UK indices is more related to USA and emerging markets than it is to the UK economy, save for those companies that do not export.

I agree with Grumpy Old Man. Woodford has not performed over the past number of years and has been too defensive. I am disillolusioned and have moved my investments elsewhere.

I held almost 60% of funds in IPIncome and IP High Income for decade until recently. With reluctance I have gradually switched to other UK funda and now hold only £ 10k in his income and high income. I am scared if he is following the footsteps of George Luckraft who once boasted of his performance so much that he refused to discount the initial commission on his fund AXA Framington Euity Income. Sorry if I am wrong.

Satish

All managers will make predictions, and some will make boasts, a few will be right some of the time, and most will be wrong most of the time. Neil Woodford, like the BOE , have, and will continue to get the inflation figures skewed. Unfortunately, they cannot predict inflation, because world markets,demand and speculators rule this section. So take all this with salt, and go sometimes, with your own gut feeling. You will most likely be as god if not better, than they. As has been said many times, buy shares direct and collect the dividends. Speculate with IT's, UT's and ETF,s, further down the line,CFD's or Warrants. Experience will follow your fortunes and failure's in life.

Life along with everything else, is a gamble and so is the stock market.

That's my experience.

Agree with most of the negative comments re Mr Woodfords funds. I simply cannot see why he commands such a high fee for holding stocks that are in most other 'High Income Equity Portfolio's'.

The truth is that the income is very mediocre and growth is limited because of the stocks held. Most irritating of all, is his constant self justification for the poor performance, by stating that disaster is just around the corner.

He was lauded for failure to follow the technology boom in 2000, though this is wearing thin. He was also praised for getting out of oil stocks early last year, before the BP Disaster. However, unless he has a crystal ball, he could not have foreseen the Gulf of Mexico disaster, and meanwhile, Shell has gone from strength to strength.

Agree with other posters, I can buy AZN and GSK myself, collect 5% divi and not have to pay anyone else for the privelege.

Try Edinburgh Investment Trust instead: much the same stocks by the same manager, but less costs as far as I can tell.

And Invesco Perpetual Monthly income plus. By including bonds you get the income from both the bonds and the equity portion tax-free.

Roy C

As you have been helpful before on this site and you are aware how ignorant I am, can you please tell me what is AZN and GBK please? Always learning!!

Another thing I request you to shed some light on is:- Instead of buying BP shares, can I buy some funds that relates to oil?

Your feedback on this is greatly appreciated.

Scorpio, AZN, Astra Zenica. GSK, not GBK Glaxo Smith Kline, both Pharma shares. The AZN, and the GSK are kown as there EPICs or codes, when buying on line searches.

For oil, you really need to decide if it's Explorer's or Suppliers or maybe both.

There are loads of explorers and then refiners and suppliers like Shell, BP,Exxon,Texco,Total, etc.maybe an ETF will suit you, so look at Morningstar UK Site click on ETF tab, and you'll get options to narrow your search to oils, then do your research,and also look at their sites on the ones that look good, maybe click on the graphs. Also Click on IT's (investment Trusts) that specialize in oil on the explorers or suppliers. I suggest you wait a while though as I think oil will rise due to Mid East unease. So perhaps IT's are the way to go, to gain experience, look at the companies they invest in and watch their individual performance. But oil is going to go up that's for sure as oil supply and discoveries have peaked.

Also I have read that the post office are bringing out a 3 year RPI index linked bond, in March sometime. This will be 1.5 above the Annual RPI, but I don't think it will be ISAble, but never the less will be slightly above the RPI, for a 20% tax payer(assumption), As your were asking about targeting RPI, but also purchase Investors Chronicle and Share Mags(via subscription). You can get a feel for ITs and ETFs from there. BUT! don't buy shares recommended a buy, as they will be a history price, and professional punters will, be waiting in the background to sell, as the price will be anywhere between 10% and 20% up on underlying value. If you wait a couple of weeks you will notice they will generally fall, unless there is other good news for the rise. Like it's just about to go EX dividend or close to it. Again go to sites, and look when and how much their dividend is projected to pay, this goe's for IT's also, some pay annually,semi annual, and even quarterly.

Bye,Buy

Roy C,

I am so grateful to you for your very informative answer on the three codes. I did not know that they are codes for shares. Also on the advice re. oil funds. I was talking to Hargreaves Landsdowne yesterday to ascertain if ITs are more expensive that UTs. They told me that UTs annual charge on most funds is 1.5 whereas, IT's AC is less although but they also charge an internal charge. They would not tell me if ITs are more expensive than UTs. Can you say "yes" or "no" please. I do not wish to waste your time on me. I am sorry to ask you these questions but please just say yes or no. I intend to buy some ITs, so your answer will help me immensely. I am indeed a 20% taxpayer.

Thank you Roy, you are kind.

Ok Scorpio, UT's pay a commission to whoever holds your fund on your behalf. That is generally 1/2%, IT's don't pay any commission to fund managers, generally, although a small handful do, like Fidelity's China Fund run by the famous Bolton, but I would give that a miss anyway for various reasons. What Hargreaves do instead, is charge 1/2% per/annum for holding that particular fund in their nominee account, on your behalf. This will be deducted from the dividend gained from this fund, and not the capital outlay ie the unit value of the fund, But whatever the fund value is, along the line they will charge 1/2%, so if at the end of the day, that IT doesn't gain a dividend, Hargreaves, will mount up an interest charge for any unpaid commission.

So if a IT Ter is l slightly less than 1% then you add their 1/2% you can see that this then compares with a UT's annual charge of 1 1/2%. So if your into maths, the DCF(discount factor) over a 10 year period can add up to a considerable amount.

So look for a IT that charges no more than say 3/4% or ideally 1/2% then that will be ok held with Hargreaves. Other wise check other site's for the costs etrade etc or I use Jarvis x-0 for an ISA using Shares, EtF's or IT's, they only charge £5.95 per trade and no tail end commission for ISA's. So when you gat a dividend you could invest it in a different position, with a less dealing charge than Hargreaves. This is as the present conditions apply.

I use Hargreaves for both option's as they are good at UT's and good on more choices on other options. I use Jarvis, and Fidelity.

My advice is look around, don't rush, read the mags I've mentioned. Get a copy of "The Naked Trader" book. and "Worry-Free Investing" By ZVIE BODDIE& IAN SYKES, From Amazon. Chill and digest, the stuff, then go back to the market place better informed, and go by your own decisions and not mine or any of the other chuffs you may read on this site. Some are good tips, but the better you are informed, the wiser you will be. I'M a grey haired old git.

AZN.L will come good, GSK.L will improve, not a lot but +2.01, Roch expect some big increase withing next three months or so, but get your money in stocks that simmer in good times and boil in recession, a scan through the last four recessions gives a good overview, Ann Summers is a good bet as home ''entertainment'' will be ''bedded'' in over the next three to four years of

austerity ........

You lucky so and so,Michael!

I have recently increased my Woodford holding,but not to as much as it used to be a few years back.Tend to look worldwide for income now.

A stopped clock-- and taking commission!

Anonymous 1...............not an unreasonable comment by your goodself,I have to say!

Anon and marbles ....

What do you mean? I have also been in an out of woodford but in recent months he is one of the few who have come good. I am up 2% when others a a sea of red. Do you really think its best to be out of Inv Perp ???

banjo

Banjo,as I said,I hold Woodford but on a much reduced level to his halcyon days.He underperformed substantially and was banging on about pharmas and fag companies ad infinitum.Yes ,he is doing o.k. now but as Anon says even a stopped clock is correct twice a day!

Look worldwide for income as well as to Woodford imho!

Good luck.

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