Woodford Protege Mark Barnett Hit With Morningstar Downgrade
- Ratings on Invesco High Income, Invesco Income funds both cut
- Funds cut to ‘neutral’ on liquidity concerns, analysts say
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Neil Woodford’s protege Mark Barnett, who followed his mentor’s lead to load up on less liquid securities, has been hit with rating downgrades on two of his funds at Invesco Ltd.
Ratings firm Morningstar Inc. cited concerns about the way he’d changed the focus of his funds to buy smaller companies that are less easy to sell. Analysts at the firm cut their ratings on Barnett’s Invesco Income fund and the Invesco High Income fund to “neutral”.