Four vehicles, including the £1.7bn Schroder Income fund, have re-joined the Investment Association's UK Equity Income sector after being ejected in recent years.
Last month, the IA lowered the UK Equity Income sector's yield hurdle from 110% to 100% of the index's yield over a three-year rolling period, while failure to achieve 90% of the index yield in any one-year period would result in a fund being removed from the sector. The move followed a comprehensive review of the sector including consultation with members and advisers, after a number of big funds were kicked out of the sector for failing to meet the yield criteria. However, the changes mean a number of funds previously ejected from the sector have been able to reapply. Currently,...
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