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Luckraft and Stick fall out of white list

George Luckraft and Carl Stick are two big-name omissions from Principal’s latest white list of its top 12 UK income recommended funds.

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.


Proc on the move

Mortgage clubs and networks are reviewing their business structures amid growing concern that procuration fees will fall away over the next two years to be replaced by advice fees.

The third age

It should really be good news that we are living longer. In 1950, around 16 per cent of the UK population was aged 60 or over. By 1980, that had increased to 20 per cent and by 2030 around 25 per cent of the population will be 60 or older.


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