Ardevora UK Income fund merged with R&M mandate

£6m assets added

The River and Mercantile UK Equity Income fund has taken on the £6m ES Ardevora UK Income fund, following the approval of investors at the end of March.

The £6m Ardevora fund was previously run by Jeremy Lang and William Pattisson. However, due to a lack of new investment the trustees believed the cost of the fund would have a disproportionate impact on performance. River and Mercantile names Lewis group head of ESG While still small, R&M UK Equity Income has already seen its AUM increase by 18.2% from £121m at end 2020 to £143m at the end of April 2021, according to FE fundinfo. The fund, run by portfolio manager Dan Hanbury, has underperformed the IA UK Equity Income over one year, returning 21.8% compared to 29.1%, according to ...