Ashby takes over UK Enhanced Income fund at Ignis

Graham Ashby has taken over a UK Enhanced Income fund at Ignis, targeting a yield of up to 9%.

The fund was initially soft launched in July 2010 for Martin Brown, who Ashby replaced on the £89m UK Equity Income fund when he joined Ignis in March 2012. Although the fund will not yet be marketed by Ignis, it has appeared in the fund range on the group's website and the IMA performance tables while Ashby builds up a track record. Over the past year to 5 October 2012 it has returned 16.1%, compared to the sector average return of 20.8%, according to Morningstar. The portfolio consists of 40 to 70 UK stocks from across the market cap spectrum, with an emphasis on mid-caps. A c...