The Investment Management Association (IMA) has revealed the list of funds in its UK Equity Income and Growth sector.
It has stripped out those funds from the UK Equity Income sector that failed to achieve 110% of the FTSE All-Share yield, based on the 12 months to December 31, 2008. However, it took into account final distributions if these were out of step with a fund’s calendar year end.
The IMA says most of these funds chose to transfer to the new sector, which allows them to retain their performance records.
The funds in the sector include four Invesco Perpetual funds including Neil Woodford’s Income and High Income vehicles, the Fidelity Multi-Manager Equity portfolio, the Credit Suisse Multi-Manager Income portfolio, and the Neptune Income fund.
Funds in other sectors were given the opportunity to move to UK Equity Income and Growth if they were able to demonstrate compliance with the definition. So far, Rathbone Income and Growth and Henderson UK Growth & Income have chosen to do so, says the IMA.
Chillingworth’s fund to move sectors