Schroder Income in doldrums year after manager handover

Schroders' behemoth Income fund has had one of its worst periods of performance relative to peers following the handover to managers Kevin Murphy and Nick Kirrage.

The £1.3bn fund has been in the duo’s hands since mid-May last year following the departure of stars Ian Lance and Nick Purves to RWC. It  has dropped down the rankings over the past 12 months despite the managers’ decision to stick with the existing style. According to Morningstar data, the fund has returned 11.93% from the handover date to the 10 May, lagging the sector’s 17.65% and the FTSE All Share total return of 17.7%. Kirrage said the fund has struggled because of its value-orientated investment style, with growth companies in vogue in the past year. “Value as a style ha...