Equity income funds suffer amid fresh credit concerns

Equity income products have suffered over the last week as oil prices have rebounded and bank shares ...

Equity income products have suffered over the last week as oil prices have rebounded and bank shares have sold off due to fresh credit concerns. Last week the oil price made gains and the dollar fell as US mortgage giants Fanny Mae and Freddie Mac were sold to 20-year low levels. The bottom ten UK-domiciled fund performers were all UK equity or Reit focussed and many had high bank weightings. The worst week was had by Santander Equity Income, which fell 6.76% as at 20th August according to Morningstar. A range of Standard Life UK equity funds joined the back of the pack, losing over ...