Chelverton soars to top of rankings after dodging BP bullet

Focus on small-cap dividend payers delivers for Chelverton.

BP’s oil spill last year had severe ramifications, not just for the east coast of America. Investors in the UK whose clamour for income forced managers into an ever-narrower group of high dividend-paying stocks were also caught short as the oil major saw its share price halve, before it was forced to cut its dividend. The move had a profound effect on the income universe in the UK, with a number of well known managers running multi-billion pound portfolios seeing performance plunge as one of their largest holdings was put through the wringer. It also boosted funds that focused on s...