Leading income fund manager Neil Woodford has joined Oakley Capital Management, it has been confirmed.
Mr Woodford announced recently he would leave Invesco Perpetual in October after 25 years.
He will begin work at Oakley, an asset management and financial advisory business, in April.
Peter Dubens, managing partner at Oakley, said: "I am delighted Neil is joining and we fully support his desire to create his own transformational asset management business soon after joining Oakley Capital.
"We will fully support the transition and in the meantime we will provide an environment in which Neil can have the autonomy and flexibility to best serve the interests of clients."
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Oakley said it will provide the infrastructure to allow Mr Woodford to manage retail and institutional clients' money immediately after his employment with Invesco terminates on 29 April.
At Invesco Mark Barnett Invesco Perpetual is set to be named manager of the Invesco Perpetual High Income Fund and the Invesco Perpetual Income Fund. He will then succeed Mr Woodford as Head of UK Equities.