Neptune to merge income fund into better performing peer

Neptune Investment Management has announced that it will merge its Quarterly Income Fund into its Income fund.

The merger comes into effect on 1st April this year.

The move follows an underwhelming performance of the Quarterly Income fund.

The Quarterly Income fund has returned 4.4 per cent over three years compared to the 8.2 per cent returned on average by funds in the Investment Association’s UK Equity Income sector, and 15.5 per cent over five years compared to 18.6 per cent sector average – making it a third quartile fund.

Neptune’s Income Fund, on the other hand, has returned 23.6 per cent over three years compared to 8.2 per cent average and 34 per cent compared to 18.6 per cent sector average over five years, making it first quartile.

Neptune chief takes aim at Woodford and fellow income managers

The firm says the decision follows clients’ requests to merge the funds.

Neptune chief executive and manager of both funds Robin Geffen says: “The Quarterly Income Fund was originally launched as a unit trust over 14 years ago.

“However, we have taken the decision to merge this fund in to the Income Fund. Not only will this be cheaper for clients but will also provide our Income Fund investors with a quarterly as opposed to half-yearly dividend.

“The Neptune Income Fund has outperformed its peer group over the long and short term and we are confident that this merger will drive additional returns for investors.”



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