Adapting to equity income change

The benefits of an income-based investment strategy are widely understood and have been explored in a myriad of academic papers such as the annual research from Professors Dimson, Marsh and Staunton, the Barclays Gilt Equity Study or various papers from Rob Arnott. The advantages of such a strategy can be summarised as follows: Income investing as a strategy produces excellent long-run returns Historically, the majority of equity returns has come from dividend income not growth In the past, returns from dividends have been in excess of those from inflation, change in valuation a...