Ecclesiastical's Hepworth: Property is my only high-conviction play

Ecclesiastical

Robin Hepworth talks about navigating a tough environment for income as bond yields sink and share prices rocket.

Robin Hepworth may be one of the UK’s best-known income managers, but a strong run in recent years means he is now less than positive on the potential for dividend growth in future. Hepworth is top quartile over one, three, and five years in the Mixed Investment 40-85% Shares sector, his £250m Higher Income fund having returned 77% in the five years to 6 June, compared to an average of 63%. His long-term performance is equally impressive, with the fund returning 471% since launch in 1995 – more than double the benchmark return of 206%. However, Hepworth acknowledged price rises in equ...