Change is afoot

After last year's relatively poor showing, 2010 should prove to be a more rewarding time for equity income investors

The UK equity income sector did not cover itself in glory in 2009. With the average return for funds in the combined IMA UK Equity Income and UK Equity Income & Growth Sectors trailing the FTSE  All-Share Index by over 6%, albeit up markedly in absolute terms, many UK income fund managers will probably want to consign last year to distant memory. Downward pressure on dividends amid some of the toughest trading conditions for decades was an inevitable drag upon the sector, but many funds were hurt by their heavily defensive positioning when the stock market, led by cyclical stocks, snappe...