IMA ejects another fund from UK Income sector as cull continues

The Investment Management Association (IMA) has removed the CF JM Finn UK Portfolio fund from the UK Equity Income sector after it failed to meet yield requirements.

The fund, run by Mark Powell, failed to produce a yield equivalent to 110% of the FTSE All Share over a rolling three-year period, and has now been moved to the Unclassified sector. That follows the departure of a number of other UK equity income vehicles from the sector, including the St James's Place Equity Income fund, managed by RWC's Nick Purves and Ian Lance. James Henderson's Henderson UK Equity Income fund left the sector last month, while JPM and Marlborough offerings were ejected earlier this summer. JM Finn UK Portfolio has consistently failed to meet yield requirements ...