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Rathbone tops fund charts

The Rathbone Income fund has topped the charts for the most consistent UK equity income fund, according to IFA Principal Investment&#39s annual “white list” of top-performing income funds.

Principal&#39s 27th equity income study reveals the Rathbone fund, managed by Carl Stick, topped the “white list” of the 12 most consistent funds producing a net income over the five years to June 30 of £21.50, based on a £100 investment. This fund has been in the top spot since July 2002.

In second place was the Friends Provident stewardship income fund, with a £20.40 return, followed by the Liontrust first income fund at £20.20.

The Lincoln income fund trails the pack as worst performer at the bottom of the black list, producing a net income of £11.90 on a £100 investment.

The funds are ranked on a quantitative system based on the fund&#39s performance in generating net income, total return and volatility over the last five years.

Principal says that as much as £2bn worth of savings are still in the 12 black-list funds, which it says have consistently failed to deliver value to investors and are an “embarrassment to the household names that manage them”.

Head of managed funds Charles Brand says: “We think this survey is an invaluable tool for selecting the best and most consistent fund in the equity income sector and it shines quite a sharp light on those funds that are consistently poor performers.”

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