Ignis' Brown shifts to small and mid caps for income

Income manager shuns ‘overowned' mega caps in favour of overweight to smaller companies

Ignis’ Martin Brown has shifted the UK Equity Income fund’s assets into small and mid caps in the three years since he took over, to boost performance and offer something different in a sector dominated by large caps. Brown took over the fund in October 2008, a week before the Lehman Brothers collapse sent shockwaves through global financial markets. For this reason he did not make any hasty decisions or changes to the portfolio straightaway. Instead, he waited until the beginning of 2010 when he began moving down the cap scale. “There are only around 12 stocks that qualify as m...