The Troy Trojan Income fund has knocked the Unicorn UK Income fund off the top spot of Sanlam’s White List of top performing UK equity income funds.
The Troy fund, run by Francis Brooke, has risen in the list, and is one of only 10 funds that saw a positive return in June, amid the fallout from the Brexit vote.
The Unicorn fund has fallen from top spot on the list six months ago to 26th place, after disappointing performance. Its small and mid-cap exposure has hit the fund.
Colin Morton’s Franklin UK Equity Income fund has climbed the most through the list, having seen low volatility over the past five years.
The Royal London UK Equity Income and Threadneedle UK Equity Income funds have both risen in the rankings, with Royal London moving from the bottom half of the list. The Threadneedle fund has reentered the list after falling off it six months ago.
Some big players have also exited the list in the past six months, due to not meeting the Investment Association’s requirements for the UK equity income sector. This includes the Evenlode Income fund and the Rathbone Income fund.
Funds that have joined the Unicorn fund in falling from grace include the SLI UK Equity Income Unconstrained Fund, run by Thomas Moore, which has moved to the bottom half of the Grey list, following very weak performance post-Brexit.
There have only been two additions to the Black list since the last study. The Santander Enhanced Income Portfolio has returned to the Black list after moving up to the Grey, while the Man GLG UK Income fund is new to the study.