UK Equity Income Bulletin

James Lowen and Clive Beagles round off the year with their usual monthly bulletin. 

  • James Lowen
  • Clive Beagles
06 Jan 2020
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View PDF   Download PDF  
  • After the Conservative party’s comprehensive election victory, it was unsurprising to see both domestic equities and, to a lesser extent, the pound respond positively in the second half of December – but we think both remain undervalued.
  • The Fund outperformed in December and in 2019 overall, a very pleasing result given the extent of the Fund’s underperformance until its recovery from late August.  
  • The value gap between both the Fund and the wider market and the Fund and its underlying dividend trajectory may have narrowed somewhat in recent months but remains significant. 


Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation. The Fund’s investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

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