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‘Go further afield for income’

Sarasin Chiswell fund manager Graham Ashby says overseas income is becoming a more attractive option.

Ashby, who is nearing his one-year anniversary on the international equity income fund, said some managers prefer UK offerings but there are more opportunities further afield.

He said: “Yield is marginally higher in the UK but the payout ratio overseas, particularly from the likes of the US, Japan and emerging markets, is much more appealing.”

Ashby also said many UK equity income funds are failing to achieve a yield in excess of 110 per cent of the FTSE All Share. Ashby said: “If you look at the 99 funds in the UK equity income sector, 30 per cent have failed to reach the benchmark yield of 2.98 per cent.

“A whole raft of countries are offering wider opportunities as international company management is increasingly recognising the importance of regularly paying and increasing dividends. This means the opportunity of attractive stocks in much wider than in the UK.”

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