Woodford Investment Management to launch first fund

LONDON Thu May 8, 2014 5:15am EDT

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LONDON May 8 (Reuters) - Woodford Investment Management, the new asset management company set up by "star" fund manager Neil Woodford, said on Thursday that it planned to set up its first fund on June 2.

The CF Woodford Equity Income Fund will be run by the renowned investment manager, who announced in October that he would leave Invesco Perpetual to set up his own fund.

The company said the fund would use the same investment approach that Woodford has previously used, focusing on companies offering "sustained dividend growth".

"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," said Woodford. "My passion and energy have never been stronger."

(Reporting By Jemima Kelly; Editing By Simon Jessop)