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Lawrence House Fof makes sector switch

Lawrence House Fund Managers’ UK equity income fund of funds has been switched to the Investment Management Association’s UK equity income sector from the UK all companies sector.

The firm says the fund was placed in the wrong sector by mistake following its launch. It invests in UK equity income funds to create a best-of-breed portfolio.

Lawrence House says it always intended to generate a higher level of income through equity income funds, reflecting its positive views of the sector.

It says equity income funds offer a combination of income and growth, with healthy yields softening the blow in difficult periods for equity markets.

It says the funds perform well over the medium to long term, despite the potential for periods of underperformance during any short-term bull run.

It adds that, as a small firm, it can invest in funds that would not necessarily be on the bigger multi-manager groups’ radar screens due to size restrictions.

Managing director Mike Sargeant says: “We are happy to invest with the boutiques and that is where we can add value. We look at funds that do not necessarily have a three-year track record. When you have just launched a fund, that is when you know it has got to perform. That is the best time to invest.

“There is a demand for equity income out there but there are not many UK equity income funds of funds.”

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