Ardevora UK Income AUM declines after 'disappointing' Q3 performance

Fund value plunges 94% over three years

The Ardevora UK Income fund has seen its assets under management plummet over the past three years, falling from £234m at the end of October 2016 to £14.4m as of 27 November 2019 – a 93.9% decline, according to FE Fundinfo.

While assets had remained relatively stable since the start of 2018, when they sat at £70.4m, between 6 September and 27 November this year they fell 54.6%. Over three months the fund is bottom quartile, returning 6.4% against the 7.9% average of the IA UK Equity Income sector, FE Fundinfo data shows. However, over one year the fund is second quartile, returning 12% against the 9.6% sector average. The mandate is run by founder Jeremy Lang and partner William Pattisson.  In Ardevora's third quarter review, the team admitted it had seen "disappointing" performance after repositio...