Income Study: Chelverton top as Jupiter and Newton return to Black List

Renewed underperformance by Newton and Jupiter's UK equity income funds has seen both fall back into Sanlam Private Wealth's 'Black List' of underperforming UK dividend-focused portfolios.

The £1.8bn Newton UK Income fund and £2bn Jupiter Income trust's fall down the rankings of the wealth manager's bi-annual income study "appears to be driven by performance over the past 12 months", according to SPW head of portfolio management Charles Brand. The Newton fund - run by Christopher Metcalfe since March 2014 - and the Jupiter portfolio - run by Ben Whitmore since January 2013 - had been longstanding members of the Black List before briefly escaping to the Grey List in February.  However, they have failed to improve performance since then, returning 4% and 3.2% respectively...