Mr Barnett's closed-ended mandates have also come under pressure. In November last year the chairman of the Perpetual Income and Growth investment trust warned him about poor performance.
The manager was then sacked from the Edinburgh investment trust in December and replaced by Majedie Asset Management’s James de Uphaugh.
Mr Barnett took over the management of most of his funds when he replaced Mr Woodford as head of UK equities at Invesco in 2014.
He deployed the same value style of investing as Mr Woodford, and had major investments in many of the same companies as his former boss, including chronic underperformers such as Stobart Group and Provident Financial.
In his response to the Morningstar downgrade last November he shrugged off the comparisons following the collapse of Mr Woodford's business, telling investors that under his stewardship the funds had “chartered a very different course” and that the portfolios were now “very different”.
He also denied facing the same liquidity problems as Mr Woodford.
imogen.tew@ft.com
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