Man GLG's £108m UK Income fund, run by Henry Dixon, has bucked the trend of mandates being removed from the Investment Association's UK Equity Income sector, by being readmitted to the peer group.
During the latest sector reshuffle, and amid a review of the yield criteria for inclusion of funds, the vehicle has re-joined the UK Equity Income sector after being expelled in April 2014. At the time, the fund was yielding 3%, below the 3.6% required, which was then equivalent to 110% of the FTSE All Share yield. However, FE data shows the fund is currently yielding 4.5%, which is above 4.1%, or 110% of the All Share's current yield. Man GLG said the fund leverages from its value focussed £443m Undervalued Assets strategy, which is also managed by Dixon (pictured). Funds indus...
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