Experienced Investor
‘Remarkable’ time for equity income – Sanlam
Three funds have been promoted to its coveted ‘white list’ – the RBS Equity Income fund, the Man GLG UK Income fund and the Lazard Multicap UK Income fund. At the same time, the Ardevora UK income and UBS UK Equity Income funds have dropped into the black list, having seen disappointing performance against their peer group.
The group said the top half of the white list has remained consistent, with the LF UK Miton Multi Cap Income fund leading the pack. The SLI UK Equity Income Unconstrained fund is also back on the list after a period of difficult performance. Axa Framlington Monthly Income and Marlborough Multi Cap Income also make the white list.
Although the top-performing funds tend to have a multi-cap approach, the Unicorn UK Income fund has suffered for its smaller company, domestic UK focus. It had a difficult run of performance in the wake of the Brexit vote and has moved from the white to the grey list in spite of good, long-term performance. Other funds slipping down the rankings included the Threadneedle UK Equity Alpha Income and Monthly Income funds.
The study stated: “There are many good reasons to be enthused by the UK Equity Income sector, especially given the poor returns available on cash and bonds, but it is important to be sensitive to the total return achievable. The amount of income received is the driving force of many income fund investors and to produce the best results, selection of the most suitable funds is critical.”
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