Rathbones' Stick on paying the right price for the right asset

Income manager Carl Stick discusses his outlook for UK stock market valuations and how he is using his cash as a strategic asset.

Carl Stick, who has managed the £462m Rathbone Income fund since 2000, has returned to form after his fund suffered a difficult 2008. He has beaten the IMA UK Equity Income sector over the past one and three years, gaining 13.4% and 42.9% against 12.2% and 33.3% respective averages, according to Morningstar data to 3 September. The manager attributed the turnaround to a more disciplined approach and his ability to identify both high quality companies and more blemished stocks at attractive price and yield levels. Using cash as a “strategic asset” has also helped generate performance and ...