The Newton and Jupiter UK equity income funds have been added to Sanlam Private Wealth’s ‘Black List’ after a period of poor performance.
The £1.8bn Newton UK Income fund, run by Christopher Metcalfe and the £2bn Jupiter Income trust, run by Ben Whitmore have seen their performance suffer in the past 12 months.
In the past year they have underperformed the IA UK Equity Income sector, which returned 8.65 per cent. The Newton fund returned 6.8 per cent, while the Jupiter fund returned just 5.7 per cent, according to data from FE Analytics.
Other moves included the Evenlode Income fund which fell from the White List to the Grey List.
The fund entered the list just a few months ago and was positioned “well into the white list,” according to Charles Brand, head of portfolio management. However, the fund has drifted into the Grey list, surprising Mr Brand, who added “this is despite an overall historical 12-month yield level that is higher than the majority of the White List constituents”.
Two new funds entered the White List, the JOHCM UK Equity Income fund and the RBS Equity Income fund.
Meanwhile, the Unicorn UK Income fund has found its way to second place in the White List thanks to its investments in smaller companies. The fund was taken over by Fraser Mackersie and Simon Moon about a year ago after its previous manager, John McClure, passed away.
