Woodford's SJP fund latest to be ejected from UK Equity Income sector

The St James's Place UK High Income fund and two other portfolios have become the latest to exit the IMA UK Equity Income sector for failing to meet yield requirements.

The £1.4bn fund - run by Neil Woodford - moved to the UK All Companies sector at the start of this week, according to IMA figures, having failed to produce a yield equivalent to 110% of that of the FTSE All Share over a rolling three-year period. Two other UK equity income funds, Andrew Jones' £109m Henderson Global Care UK Income fund and the £38m S&W Church House Balanced Value & Income fund, have also been ejected from the sector as of the same date (30 June). The former fund has moved to the UK All Companies sector, with the latter moving to the Unclassified grouping. It follow...