Luckraft: small and mid-cap convictionis finally paying off

Axa Framlington Equity Income third out of 82 in peer group

Axa Framlington's George Luckraft has seen three months of outperformance following a period of producing negative returns on his Equity Income fund. The £198m vehicle now ranks third among 82 peers in the IMA UK Equity Income sector with three-month returns of 14.8% versus the 4% sector average, whereas over one year, the fund has returned -36.4% against the -26.4% sector average, sitting at 73 out of 77, according to Morningstar. Star manager Luckraft attributes the portfolio's upturn to his decision to maintain a small- and mid-cap bias, which he says served him well during the recen...