Hepworth income fund switches sector to boost equity holdings

Ecclesiastical‘s Higher Income fund, managed by Robin Hepworth has moved out of the IMA UK Equity and Bond Income sector, into the Mixed Investment Shares 40-85% sector.

The £172m fund moved into the larger sector on 1 January this year, enabling it to be part of an increasingly relevant sector for advisers, the group said.  There are 143 funds in the Mixed Investment Shares 40-85% peer group, compared to the 17 portfolios that make up UK Equity and Bond Income. In November, the UK Equity and Bond Income sector saw net retail sales of £11m compared to £134m in Mixed Investment 40-85% Shares, IMA figures revealed. The fund remains in the top quartile in its new sector, returning 32.1% over three years to 4 January against the peer group average of 1...