Beagles and Lowen mildly bullish on the start of economic recovery

JOHCM UK Equity Income managers maintain slight overweight on cyclicals in anticipation of beginnings of recovery

Clive Beagles and James Lowen, co-managers of JO Hambro Capital Management UK Equity Income fund, say they are mildly bullish on economic recovery and maintaining a slight cyclical overweight. The £125m vehicle is first in the Investment Management Association's UK Equity Income sector over the 12 months to 15 June, down 3.5% against its 77 fund strong sector's -18.6% average. On a three year view it is 18th, with -11.4% performance, compared to -17.7% for the sector. The FTSE 350 biased portfolio aims to offer a consistently higher average dividend yield than the FTSE All-Share avera...