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Income view: Britannia rules the waves no longer?
The UK market was once traditionally seen as the home of equity income investing but, over the past 10 years, the growth in dividends has been stronger outside Britain, making global income funds extremely attractive.
What's more, the fund grew its dividend by 6 per cent in 2009, even though global dividends fell by more than 20 per cent. They are targeting dividend growth of 6-8 per cent this year, which means 2010 should be the eighth consecutive year of dividend growth for their global income strategy.
In a market where quality is likely to assert itself, this fund looks just the type of investment that could prosper. It has a yield of 4.8 per cent, which compared with UK base rates, is attractive for an equity portfolio. Boasting a consistent track record of dividend growth, this fund could form the backbone to many portfolios.
