Woodford Investment Management, the new company set up by veteran fund manager Neil Woodford, has launched its first fund, the company announced today.
The newly-created asset management company will act as investment manager to its first fund - the CF Woodford Equity Income Fund. This will launch on 2 June.
Neil Woodford, head of investments, will manage the fund, focusing on valuation and identifying companies that can deliver sustainable dividend growth and those that he believes will be good dividend payers of the future.
He said he will invest in a company only when he is convinced of the compelling long-term opportunity.
Mr Woodford said: "I will run this new fund in the same way that I have always run money, adopting the same philosophy and the same long-term approach.
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"My passion and energy have never been stronger. Woodford Investment Management has a culture and an environment that gives me the opportunity to focus on investing – and to build a business committed to its clients' long-term interests."

Share Classes and fees:


Craig Newman, chief executive, Woodford Investment Management, said: "The fund will have a simplified pricing structure.
"The only fee investors will pay is the AMC – it takes into account the necessary charges levied to manage and administer the fund.
"We are able to keep our fees low, through the use of modern technology and encouraging investors to use fund platforms, execution-only brokers and financial advice channels, rather than buying directly from us."