Chris Reid, lead manager on the £893m Majedie UK Income fund, has attributed his portfolio's "difficult" performance in 2016 to a misjudged focus on preserving capital in the run-up to last June's EU referendum and a tougher environment for income managers following the vote.
Despite performance picking up in the fourth quarter, Reid's fund broke a four-year run of outperformance last year, returning 7.3% against the FTSE All-Share index return of 16.8%, and the IA UK Equity...
Headed up by Penny Kyle
Ex-Standard life manager Angela Burns
Latest news and analysis
Talking Strategies: The number of companies in Asia with higher payout ratios have grown since the mid-1990s, but some investors remain wary of searching for income in Asia and Japan. In this video, Jupiter's Jason Pidcock and Dan Carter explain why this...