Banking

Woodford protege Barnett defends Invesco UK funds after downgrade

Invesco fund manager Mark Barnett said he disagreed with a decision this week by fund rating firm Morningstar to downgrade the Invesco UK High income and Income funds.

LONDON, Nov 8 (Reuters) - Invesco fund manager Mark Barnett said he disagreed with a decision this week by fund rating firm Morningstar to downgrade the Invesco UK High income and Income funds.

"My funds are appropriately positioned, well diversified and able to generate liquidity should investors wish to buy or sell," Barnett said in a statement on Friday.

Barnett, who worked with Neil Woodford at Invesco before Woodford left to set up his own firm in 2014, said the Invesco funds were "very different" from when Woodford managed them.

Woodford's flagship equity income fund was wound up last month.

(Reporting by Carolyn Cohn; editing by Simon Jessop)

((carolyn.cohn@thomsonreuters.com; 44 207 542 6320; Reuters Messaging: carolyn.cohn.thomsonreuters.com@reuters.net))

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