The managers have been moved to the grey list after Luckraft’s Axa Framlington monthly income fund fell by 33.5 per cent and Stick’s Rathbone income fund lost 25.5 per cent in the past 12 months.
Marlborough UK equity income and Norwich UK equity funds have also been moved from white to grey.
Threadneedle’s UK equity income fund run by Leigh Harrison and UK monthly income fund run by Jonathan Barber are the new additions to the white list, along with Invesco Perpetual UK strategic income and Resolution asset higher yield.
Jupiter income guru Tony Nutt remains on the grey list although Principal says it remains a buyer of the fund.
New Star equity income manager Stephen Whittaker joins colleague Toby Thompson on the black list of funds.
Whittaker’s fund has been spared becoming a recommended sale following the appointment of Baring’s Charles Deptford and RCM’s Trevor Green to his desk.
Hargreaves Lansdown investment manager Ben Yearsley says: “Luckraft is still on our Wealth 150 as he offers something different in the way that he selects stocks.