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Henderson income fund rated top for consistency

Research into fund perfor- mance shows that Hender-son’s UK equity income fund is the most consistent performer in both rising and falling markets.

The 291m fund, which is run by James Henderson, is up by 42 per cent over three years to July compared with a sector average of 40 per cent and is ranked 23rd of 70 funds in the sector, according to the search which was carried out by Bates. The fund outperformed the FTSE All Share index 70 per cent of the time.

In a rising stockmarket, Standard Life’s UK equity high-income fund is the most consistent, outperforming the index 67 per cent of the time and is ranked fifth in the sector, with an increase of 57 per cent over three years.

F&C’s UK equity income fund is the most consistent underperformer in a bull market, underperforming 73 per cent of the time. It is up by 30 per cent over three years.

The top-ranking fund in the sector, George Luckraft’s Framlington equity income, is only the fourth most consistent in terms of beating the index in a rising stockmarket.

In a falling stockmarket, the Rensburg UK equity income fund outperformed the index 88 per cent of the time and has risen by 43 per cent over three years.

New Star’s UK strategic income fund underperformed 59 per cent of the time and is the most consistent under-performer. It is up by 33 per cent over three years and ranked 57th in the sector.

Bates senior investment adviser Paul Ilott says: “Consistency is certainly a very important factor when considering a fund but it is not the most over-riding factor. Even though Henderson is the most consistent performing equity income fund there are a range of other factors to consider before buy- ing such a fund and Henderson, despite its consistency, is not on our buy list.”


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