Traditionalist Cane avoids banks to bolster performance

F&C UK Equity Income manager uses a rare underweight position in banks among yield-focused offerings to bring top returns over the past year

Julian Cane has succeeded in turning around performance on the F&C UK Equity Income fund since assuming responsibility in July 2005. Cane took over the portfolio following the departure of Michael Gifford to Old Mutual, and is also deputy manager on the massive Foreign & Colonial investment trust. His major work on the vehicle involved adopting the approach he uses on the F&C Capital & Income Investment trust, which he has managed since March 1997. He works within the UK large companies team with specific sector responsibility for insurance, life assurance, other financials, tobacco, ...