The £1.2bn Rathbone Income fund managed by Carl Stick is set to be ejected from the Investment Association's UK Equity Income sector, despite a potential overhaul of the requirements for inclusion in the sector.
The fund will be removed from the sector on 1 May, having failed to meet the requirement to produce a yield equal to 110% of the FTSE All Share over a three-year rolling period. This move comes despite the news yesterday the IA is consulting on potential changes to the rules governing the inclusion of funds in the UK Equity Income sector, following the expulsion of a number of prominent funds over the past couple of years. Fresh calls for IA to abandon 'archaic' yield criteria for equity income sector In a letter to shareholders, lead manager Stick (pictured) said: "The Investment ...
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