Fund buyers appreciate ‘smooth handover’
Willis Owen head of personal investing Adrian Lowcock said: “Troy have long prepared for Francis Brooke’s retirement and put into place plans to ensure a smooth handover.
“Blake Hutchins joined the group in 2019 as part of that process and his similar style – with a focus on low volatility and low drawdown – means the Trojan Income fund is likely to be managed in a very similar way, with little disruption. This is certainly no reason for current holders to sell out.”
AJ Bell head of active portfolios Ryan Hughes said: “The news has been well handled with a good lead time to enable investors to get comfortable with the news and given the continuity, I expect no change to the philosophy and process. As a result, I’m very relaxed at continuing to use the fund and trust in our portfolios.”
Merchants Trust turns defensive to protect dividend yield record
Rotating towards telecoms and housing-related stocks
Simon Gergel of Merchants Trust
The Merchants Trust shifted its exposure away from cyclical stocks towards more defensive sectors in 2020 in an effort to help sustain its 38-year dividend growth record, amid growing retail investor interest for the investment company.
Merchants, which currently offers a dividend yield of 6.1%, has been adding to telecoms, tobacco and housing-related stocks at the expense of holdings in sectors where it will take some time for dividends.
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Neil Woodford’s comeback: Four City fund managers who also said sorry
News that the disgraced fund manager Neil Woodford is plotting a comeback may have raised eyebrows in the City, but he is not the first stockpicker who said sorry for his vehicle’s performance, and who did manage to stay in the game.
Woodford gave an emotional interview over the weekend in which he apologised for the collapse of his investment company and said he is working to set up a comeback firm by launching a Jersey-based fund focused on biotech assets.
It was not, however, the first time Woodford apologised. In September 2017 he said sorry for a spell of underperformance, which ultimately was not turned around. At the time he even responded to critics who asked whether he had ‘lost it’.
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Home / News / Square Mile kicks pair of ASI UK equity funds to the curb in ratings overhaul
Square Mile kicks pair of ASI UK equity funds to the curb in ratings overhaul
Tom Moore’s £800m UK Income Unconstrained fund culled in research house’s latest ratings decision
Square Mile has ejected a pair of Aberdeen Standard Investments UK equity funds, with £1.2bn between them, from its Academy of Funds after losing faith in their ability to turn performance around.
Tom Moore’s (pictured) £800m ASI UK Income Unconstrained Equity fund and the £370.9m UK Unconstrained Equity fund, run by Wesley McCoy and Lesley Duncan, were stripped of their A ratings in Square Mile’s January ratings round-up.