Woodford exit sees Invesco assets dip Investors have withdrawn just shy of £2bn from the two flagship funds of Neil Woodford, the "star" fund manager who said in mid-October he would leave Invesco Perpetual in the spring after a quarter of a century. Mr Woodford's lead equity funds, Invesco Perpetual Income and High Income, have seen their combined assets under management slip from £24.3bn to below £22.9bn since his announcement on October 15. Taking into account the positive returns of about 2 per cent the funds have generated since mid-October, this points to outflows of £1.95bn, 8 per cent of the funds" assets. IN People in Fund Management The Income fund has borne the brunt of the redemptions, some 12.8 per cent of its assets, with the larger High Income fund shedding just 4.4 per cent. The outflows are smaller than those witnessed in the aftermath of other recent high-profile exits. The Schroders UK Alpha Plus fund saw its assets drop by a third in the six months after the departure of manager Richard Buxton in March, while those of the Axa Framlington Global Opportunities Fund slumped by two-thirds in two months after the exit of co-manager Anu Narula. Invesco Perpetual said the level of redemptions was "at the positive end of our expectations" and it was "pleased" by the reaction of clients and the market in general to the naming of Mark Barnett, a longstanding member of the Henley-based house's UK equity team, as Mr Woodford's replacement.