Luckraft turns around UK Equity Income after difficult two years

Small caps have begun to perform for Axa Framlington's George Luckraft following two tough years in which they dragged his fund to the bottom of their peer groups.

Luckraft has had 50% of his £194m UK Equity Income fund in small caps for some time, which has begun to benefit the portfolio over the last three months, contributing 5.7% to performance. The fund has beaten its peers over this period, returning 11.1% against a 10.3% average rise in the IMA UK Equity Income sector. The FTSE Small Cap index has outperformed the FTSE All Share by 3.2% over the same period. This is a marked improvement on the fund’s three-year numbers, when a drop of 26.2% versus the sector average fall of 8.1% caused it to slide into the bottom decile. Luckraft has b...